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Input GST and Output GST are what kind of accounts?

IPCC 11067 views 3 replies
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.
Replies (3)
Quick Summary
Discussion on classification of Input GST and Output GST accounts. Input GST is treated as a current asset, while Output GST is treated as a current liability. They are not classified under traditional personal/real/nominal accounts in modern accounting, but shown in balance sheet accordingly.

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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