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Expense gst year ended provisional entry

Rajkiran Ghosh (479 Points)

08 December 2020

sir
plz tell me the journal entry if my telephone expense rs 100 and cgst and sgst rs 100 but bill comes in 5th april 2020....
so plz tell me what will be the provisional entry in march 2020?

sir plz reply

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15 Replies

prasad Nilugal (3914 Points)
Replied 08 December 2020

Pass entry on 31st March

Telescope Expense A/c Dr
To Provision for Telescope Expense A/c Cr
(Provision for telescope Expense ).

Provision for Telescope Expense A/c under Provisions libility side Balance sheet .

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

And when bill comes then i take entry

provision for telephone expense a/c dr
gst a/c dr
to bsnl a/c

am i right?

prasad Nilugal (3914 Points)
Replied 08 December 2020

Yes ,you are correct , further when pay pass entry

BSNL A/c Dr
To Bank A/c Cr
( Bill for the month of March Paid)

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

You mean will i take gst input in next f.y. when bill will come?

prasad Nilugal (3914 Points)
Replied 08 December 2020

Yes, Because as per section 16(2) of the CGST 2017 1) you must have valid Invoice for Input tax credit .2) supplier must pay tax to GOVT a/c collected from you .

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

That means no provisional entry in gst input in march 2020 only expense provisional entry in March 2020????? am i right?

prasad Nilugal (3914 Points)
Replied 08 December 2020

Since Invoice is for the month of March unpaid provision is necessary .

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

You mean expense is for the month of march but gst input will be taken in next f.y. i.e. in april????

prasad Nilugal (3914 Points)
Replied 08 December 2020

You can take input tax credit for provious year up.to the date of filing return for the month of September ,as per section 16 (4) of the CGST act 2017 .

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

If i take entry gst input dr in april then i take input gst credit in april... right?

prasad Nilugal (3914 Points)
Replied 08 December 2020

For Input Tax credit you have to fulfill all conditions in section 16(2) of the CGST act 2017 ,also reflection in GSTR2A is for confirmation .

Rajkiran Ghosh (479 Points)
Replied 08 December 2020

Can i take input gst of april in march?

prasad Nilugal (3914 Points)
Replied 08 December 2020

You go through section 16 (2) of the CGST 2017 conditions for availing ITC .

prashant ( CS) (19 Points)
Replied 08 December 2020

Telephone exp a/c dr 100/- To provision for expenses 100/-

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