Input tax credit
Querist : Anonymous
by filing TRAN-I form, Kindly give the accounting entry for the ITC so availed.
Expert : Anonymous
Are You availed ITC based on Stock Only...?
By
Raja P M
Querist : Anonymous
Dr. Input SGST (Duties & Taxes) - Rs. XXXX
Cr. SGST Availed based on Stock - Rs. XXXX
*** ITC Availed based on Stock will be account under PandL head. The Ledger "SGST Availed based on Stock" under "Indirect Income"
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