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.
Menu
Input GST and Output GST are what kind of accounts?
Replies (3)
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
Recent Threads
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
Related Threads
CAclubindia
