What if a firm keeps on availing itc, month after month and not pay the tax as purchase is more than sale.
In what name that credit will stand in ledger?
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credit excess
Replies (2)
credit is stand in the name of CGST SGST AND IGST input in respective ledgers
in ledger descripttion you can see
ITC accured through INPUTS ( means when you add your ITC that shows in this column)
and when you sett off input with output then decription is OTHER THEN REVERSE CHARGE
ITC accured through INPUTS ( means when you add your ITC that shows in this column)
and when you sett off input with output then decription is OTHER THEN REVERSE CHARGE
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