Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

banner_ad

GST paid include in P & L a/c

This query is : Resolved

Share Report Follow Query Ask a Query

tds files (Querist)
Follow

29 October 2019 Sale Rs.1.2 crore, GST 21.60lakhs

Purchases 80 Lakhs, GST 14.40 Lakhs

GST Paid Rs.7.20 Lakhs (21.60-14.40)

My query is that 7.20 Lakh can i show in profit and loss A/C or Show in Current liability

(That GST Paid in 12 months from April to march)

April to Feb-- 6.80 Lakhs

March --- 0.40 Lakhs

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 October 2019 Keep GST account separate liability account not passed through p and l.
Credit GST collected 21.60 lacs under liailIty adjust ITC on purchase 14.40 lacs balance 7.20 lacs remit it from liability.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member UPENDRAN YADAV

UPENDRAN YADAV

Pro Member rohit grover

rohit grover

Pro Member Ramulu Thakkalapally

Ramulu Thakkalapally

Pro Member PIYUSHBHAIPOPAT

PIYUSHBHAIPOPAT

Pro Member Narasimha Murthy

Narasimha Murthy

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

ARTICLESHIP 17 May 2026

CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details

22 May 2026

Audit assistant

Displayandbeyond

Mumbai

CA

View Details

Featured 28 May 2026

SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details

ARTICLESHIP 09 June 2026

Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details

26 May 2026

CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details

18 May 2026

MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details

21 May 2026

Associate

PWC

Kolkata

CA

View Details

26 May 2026

Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details