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Gst paid account

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Nishan kotian

Tax practitioner

335 Points Posted on 11 December 2020

gst paid a/c is a indirect or direct expenses profit and loss account

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Quick Summary

This discussion clarifies the nature of a GST paid account. It explains that GST paid is typically treated as a liability account under the 'Duties and Taxes' head, rather than a direct or indirect expense. The exact classification can sometimes depend on specific accounting treatments and circumstances.