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.
INPUT GST is an Asset and OUTPUT GST Liability .
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 17 April 2021
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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