GST Entry for input reversal at time annual return
This query is : Resolved
04 April 2022
Dear Sir/Mam,
Good morning,
While making sale free of cost at this time we make input credit reverse on product & make expense as cost of sample. we done this in books but we forgot to reverse it in GSTR-3B FY 20-21
april-2020 but at the time of filing GSTR-9 & 9C we have shown this difference and Paid DRC-03 by bank. now i just want to know journal entry of DRC-03 in my books.
please help me in this regard.
Good morning,
While making sale free of cost at this time we make input credit reverse on product & make expense as cost of sample. we done this in books but we forgot to reverse it in GSTR-3B FY 20-21
april-2020 but at the time of filing GSTR-9 & 9C we have shown this difference and Paid DRC-03 by bank. now i just want to know journal entry of DRC-03 in my books.
please help me in this regard.
05 April 2022
Previously you would have adjusted this amount with ITC however in reality you didnt adjusted it. Later on you are adjusting it with cash. ITC will get debited and cash will be credited because previously in books you would have credited the ITC
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- One Post a Week Done Right Beats Seven Done Wrong
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
