banner_ad

P&l and balance sheet

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 September 2019 Dear Sir
I am regular dealer . Return of March 19, I have filed return through Cash Rs. 5500/- on 20- 4 - 2019. In preparing Balance sheet, said amount can I show in balance sheet as GST payable Rs. 5500/- in liability side.
Plz reply with explanation?
Thank you
Profile Image

A.S.SUNDARARAJAN

Profile Image

A.S.SUNDARARAJAN (Expert)
10 September 2019 Firstly of all the GST payable on invoice to be shown as in the ledger GST - Output tax ( Separate ledger for IGST, SGST, CGST). Similarly GST ITC credit to be shown as in theledger GST - input tax ( separate ledger for IGST, CGST , SGST and RCM - SGST, RCM - IGST, RCM- CGST). The amount in the ITC to be folio transfered to output tax ( IGST,CGSTand SGCT) ledger and balance payable to shown in GST payable under the catagory of statutory liabilities
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
28 April 2026
Senior Accounts Professional

Vivek S Gupta & Associates

New Delhi

B.Com

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
27 April 2026
Senior Accountant

Jyoti K agarwal & co

Mumbai

Others

View Details