Hi Everyone, Actually I had a doubt regarding GST adjustment entry at the year end . Please clarify the following situation
GST as per 2b is 2,40,000 whereas in books it is 2,36,000 . Difference is due to following reasons
1) GST value shown by vendor more in portal than in books ( as per bill) rs.1000( purchase of asset)
2)Purchase return of above mentioned transaction in books whereas it is not available in GST portal
3)GST amount included in value of asset in last FY. (Rs. 2000)
How should I passed year end adjustment entry to match 2b with books.
Thankyou
CAclubindia
