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
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- Heard & Seen Around – Your Daily Economi
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
- About CMP-08
Related Threads
CAclubindia
