Section 43b
Querist : Anonymous
Examples :
net sales is 10 (shown in sales), Rs 2 (GST on sales) shown in duties & Taxes
net Purcahse is 9 (shown in purachses, GST credit on it of Rs 1.5 shown in Duties & Taxes
so net payable is 0.5 not paid till Tax Audit date
will Rs 0.5 disallow U/s 43B ??
Querist : Anonymous
10(sales)+ 2 (GST) = 12 in Sales
9(Purchases) + 1.5 (GST) = 11.5 in purchases
0.5 is tax Liabililty of which 0.2 has been paid, entries passed are
Case 1
GST Paid Dr 0.5
To Bank 0.2
to GST Payable 0.3
Case 2 :
GST Paid dr 0.2
To Bank 0.2
In both of the above cases
In which case GST payable of 0.3 will be disallow ??? 0.3 is not paid till audit
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