GST Late fees in balance sheet

where should GST late fees amount deduct
under profit & loss account or capital account
Replies (2)
Quick Summary
This discussion explores the correct accounting treatment for GST late fees. It addresses whether these penalties should be recorded as an expense in the Profit & Loss account or allocated to the Capital account. The consensus leans towards treating them as an expense within the Profit & Loss statement.

In profit and loss account as expenses.
In profit and loss Account

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details