Duties and Taxes Showing negative Balance [URGENT]

Sadik pm (Accountant) (32 Points)

01 September 2021

Duties and taxes are still showing negative balance even after inputting details of tax paid.(-1217.74).

What to do?

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4 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 September 2021

Get your IT guy check out, or else your data entries please. There could be.a bug in the software.

CA Raj Doshi (Practising CA) (8733 Points)
Replied 01 September 2021

You could have paid interest late fees which are not accounted.

Sadik pm (Accountant) (32 Points)
Replied 01 September 2021

I accounted the interest and late fee sir.

S JEEVARETHINAM (Sr Manager Finance and Taxation) (137 Points)
Replied 14 September 2021

Please check whether you have configured ITC Credit also under Duties and Taxes, If so, Your ITC is higher than Liabilities payable

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