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)
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 Threads
- Rcm invoices and normal invoice
- Regarding STCG on Equity
- GSTR 9 details with same PAN & different Turno
- Hotel ITC
- ITR for Trust- 12A
- Proprietorship to Pvt Ltd - Is Slump Sale / BTA ma
- Pan and Aadhaar Link Issue
- Fund Transfer to Foreign Country and TCS provision
- ITR updated return
- Company change Status from CIRP into Active
Related Threads
CAclubindia
