banner_ad

gst in P&L..

Others 1444 views 4 replies
User Avatar

625 Points Posted on 13 May 2019
can gst be included in profit and loss statement?
2 Reply Share Follow
On 13 May 2019 at 23:36 Report
Replies (4)
User Avatar

Chartered Accountant
86505 Points Posted on 14 May 2019
You can claim gst paid in p&l as same is an indirect tax.....
Reply
On 14 May 2019 at 00:07
User Avatar

"Do the Right Thing...!!!"
128152 Points Posted on 14 May 2019
If You are under composition scheme then You can book the GST Tax payment in expenditure account...

If Regular dealer then it's not account in PandL account. It is under "DUTIES & TAXES" head as Current Liability / Asset.
Reply
On 14 May 2019 at 10:04
User Avatar

Chartered Accountant
86505 Points Posted on 14 May 2019
But if the gst is included in sales & purchase , then gst paid is to be accounted for in p&l. Otherwise show it in duties and taxes account.
Reply
On 14 May 2019 at 22:48
User Avatar

9 Points Posted on 18 September 2023

how to justify it in case of scrutiny. my client is under regular and has debited the paid gst from profit and loss 

Reply
On 18 September 2023 at 11:12


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details