Input GST and Output GST are what kind of accounts?
They falls under Personal or Real or Nominal Account?
And They are asset, liability or income or expense?
Please explain.
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Input GST and Output GST are what kind of accounts?
Replies (3)
Quick Summary
INPUT GST is an Asset and OUTPUT GST Liability .
Are they always fall under Real Account Sir?
Input GST are tax on inputs while output GST is tax on outward supplies. Input GST is current assets and output GST is current liabilities
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