Gst on deposit work

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93 Points Posted on 26 June 2020
Can i treat deposit work as a liability and work executed as a asset in balance sheet without routed through it profit and loss. What will be its GST treatment. pls advise
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On 26 June 2020 at 13:02 Report
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Quick Summary
This discussion explores the accounting and GST implications of treating customer deposits as liabilities and the work executed as assets on a balance sheet, bypassing the profit and loss statement. It seeks clarification on the applicable GST when a deposit is taken for services and how to account for the work performed, considering annual turnover.

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GST Practitioner
55067 Points Posted on 26 June 2020
Gst Applicable if the deposit taken for supply of Services. & kindly clarify the work executed...
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On 26 June 2020 at 23:41
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4215 Points Posted on 28 June 2020
What is your annual turnover
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On 28 June 2020 at 19:23

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