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how to show in accounts
while finalising of accounts i shown the RCM tax as expenses and debited to p&l a/c. Now the govt. has given permission for claiming of itc after sep,18. so what is the accouting treatment for this if i take itc now???
Replies (3)
Just account the same in incomes head...
Why you book the rcm tax in expense head...?
Why you book the rcm tax in expense head...?
i finalised the accounts after sep,18. so i cannot take itc for the said amount so i shown it as expense. but after filing of IT return the govt extended the date till march,19 for claiming of itc. now i can take itc on such amount but how to adjust the same in account books
Ohhh... Okay.
You can book it under Income head and avail the ITC.
You can book it under Income head and avail the ITC.
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