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Gst payment allowed business expenses

This query is : Resolved 

15 June 2021 A gst registered dealer rs:50,000/- net balance tax for may-21 month amount business expenses (profit and loss account debited) allowed in it act.

15 June 2021 The net balance tax has to be adjusted against GST collected on sales only.





15 June 2021 It is a liability. If collected from customer then liability will get adjusted from such collection. If not collected from customer then the gross gst liability will be charged to p&l




16 June 2021 you are not depositing GST from your pocket ...........you paid the collected amount from your customer.

liability should be net off.



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