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Balance sheet entry

This query is : Resolved 
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(Querist)
11 July 2019 Respected Sir,

in a balance sheet we have show below entry.

IGST (RCM) Input Rs .14400/- DR. ( Current Assets) 31.03.2019
IGST (RCM) Payale Rs. 14400/- Cr. ( Current Liabilities ) 31.03.2019

So my Quiry is that can we carried forward the same in next FY 2019-2020 or need to adjust with IGST output in March 2019

please guide to me
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Nandini H Gupta

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Nandini H Gupta (Expert)
12 July 2019 In financials the RCM entry is for payment and credit availment. Once the credit is availed in GSTR 3B.the same has no time limit to adjust/utilize against a liability. So no need to utilise in March 2019 itself.
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