sir, I have paid some amount of gst return or annual return 2017-18 now what is accounting entry for current year
Replies (2)
Quick Summary
This discussion explains how to account for GST payments made in a previous financial year (e.g., 2017-18) within your current year's accounting records. If the payment was made via DRC-03, the suggested entries involve debiting your bank account and crediting the electronic cash ledger, followed by debiting GST paid and crediting the electronic cash ledger. It's recommended to record this under a 'Previous Year Account' for clarity.