CGST/SGST Input tax Classification in Tally Prime

CRR RR (14 Points)

30 November 2024  

Hi Sir/Madam

I have Taken CGST/SGST ledgers on Sales under Current Liabilities (Duties and Taxes) classification

There is CGST/SGST Input tax credit on Purchases as per GSTR 2B 

Can i take same classifiaction for this Purchase related CGST/SGST Input tax credit like Current Liabilites (Duties and taxes ) 

Or is it required to take Purchase related CGST/SGST under Current Assets 

Please advise

Thanks