Dear Sir/madam
There is a company Abc pvt ltd. the company Books has Gst Payable opening 31000 in Financial Year 2020-21. But Gst amount paid 100000 for the previuos year. what will be the adjustment entry i should do....?????
Menu
Gst matching
Replies (4)
Quick Summary
You need to provide for gst liability for the month of March 21
The payment during the would be set off against liability
First of all gst payment of 100000 would be set off against 31000 payable and other would be liability for the year except for last months
I think you have pass adjustment entry
Gst payble A/c Dr 30000
Gst cash ledger(IGST,CGST,and SGST)A/c Dr 70000
to bank A/c 100000
Gst payble A/c Dr 30000
Gst cash ledger(IGST,CGST,and SGST)A/c Dr 70000
to bank A/c 100000
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
