capital good entry tally under gst
Mandeep Chauhan (50 Points)
01 June 2019
i purchase car i want made entry tally account how it please teach me
Mandeep Chauhan (50 Points)
01 June 2019
prasad Nilugal
( GST Practitioner & Accounts )
(14200 Points)
Replied 01 June 2019
1) Car A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Sundry Creditors A/c Cr
(Booking entry for purchase of CAR , Invoice no ,date ) Car under Non current fixed asset in balance sheet
2) when you pay through bank
Sundry Creditors A/c Dr
To Bank A/c Cr
(being payment made Ch.no date )
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 01 June 2019
Dr Car
Cr Bank/Party
Since ITC not available on car therefore full amount needs to be capitalised
prasad Nilugal
( GST Practitioner & Accounts )
(14200 Points)
Replied 02 June 2019
Supplier will issue Tax Invoice (Gst ) for purchase car , for same we have pass entry in the books of accounts as above . input credit is not available under section 17 (5) of the CGST act .
CAclubindia
