Gst Journal entries

This discussion explains how to manage GST journal entries, particularly when suppliers file returns quarterly. The recommended approach involves passing regular entries as per the purchase register. Any unclaimed Input Tax Credit (ITC) should be transferred to a separate 'Deferred CGST/SGST/IGST' current asset account. Once the ITC appears in GSTR-2B, you can then credit these deferred accounts and debit the main ITC accounts.