IGST Input Regarding

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290 Points Posted on 02 July 2020
Sir,
IGST Input Comes Under Current Assets
IGST Output Comes Under Expenses ?
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On 02 July 2020 at 15:59 Report
Replies (5)
Quick Summary
This discussion explores the correct accounting treatment for IGST input. Participants debate whether IGST input should be classified as a Current Asset or a Current Liability. The consensus leans towards IGST input being treated as a Current Asset, while IGST output is considered a Current Liability.

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accountant
141 Points Posted on 02 July 2020
Cureent liability
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On 02 July 2020 at 16:08
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1313 Points Posted on 02 July 2020
IGST input regarding Current liability
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On 02 July 2020 at 19:33
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accountant
141 Points Posted on 02 July 2020
No igst input is current assets
and igst output is current liab
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On 02 July 2020 at 19:38
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4215 Points Posted on 02 July 2020
Yes it is under current liabilities
1 Reply
On 02 July 2020 at 21:56
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GST Practitioner
55067 Points Posted on 03 July 2020
Input under Current Asset & Output under Current Liability
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On 03 July 2020 at 00:48

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