How to account for various heads under GST
This query is : Resolved
gauri kulkarni
(Querist)
30 December 2022
While calculating GST liability under GSTR 3B, we add or deduct RCM, RCM credit, ITC on Free Goods, ITC as per GSTR 2B etc. DO we need to account for all these in books of accounts, on monthly basis?
If Yes, what is the standard practice to be followed, so that calculation of 3B will match with net liability as per Books?
If Yes, what is the standard practice to be followed, so that calculation of 3B will match with net liability as per Books?
CA R SEETHARAMAN
(Expert)
31 December 2022
Yes, charge off to p and l all GST paid for which ITC can't be claimed.
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