ICICI

Excess input gst not utilized as itc


Donati (Self occupation)     13 July 2019

Donati
Self occupation 
 15 points

| My Other Post

I had a debit balance of SGST on 31st March 2018 (Reflecting in the Liabilities under Duties & Taxes with debit balance). Only part of it was utilized in 2019 against ITC. How should I treat the balance which is not going to be utilized as ITC. Will it come in P&L as indirect expenses or should I adjust it against the partners' capital a/cs.

Thanks

 

avater

Pankaj Rawat (GST Practitioner)     13 July 2019

Pankaj Rawat
GST Practitioner 
 2936 likes  39209 points

View Profile | My Other Post

if you are writing off in books by transferring to p&l , then on portal also it should be Nil value

avater

Donati (Self occupation)     18 July 2019

Donati
Self occupation 
 15 points

View Profile | My Other Post

The excess of input SGST was not availed as ITC hence it wont show in portal and moreover it was not going to get availed in future as well.

If I have to write it off by transferring to P&L, what would be the entry. or Can I adjust it in the partners capital a/c. 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »