Dear Sir,
we have received notice from GST department demand Rs.88000 fake gst drive. we purchase Goods from supplier Rs.3310000 dt.19.08.2021 payment dome on same day. but supplier not filed 3B and Close business after 1 month. we deposit Rs. 88000 by Cash ledger so please suggest entry in books of account
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Notice received GST
Replies (5)
Is this treated as penalty...??
Then :
Dr. GST Demand A/c - XXXXX
Cr. Bank A/c - XXXXX
(give suitable Narration for the demand and reason).
**The said amount disallowed under Income Tax...
Then :
Dr. GST Demand A/c - XXXXX
Cr. Bank A/c - XXXXX
(give suitable Narration for the demand and reason).
**The said amount disallowed under Income Tax...
Sir,
so can we adjust with Capital account
so can we adjust with Capital account
Yes, You can account and forward the amount to Capital Account. But, Better practice show the value as disallowed..
Thank you Raja Sir,
You are welcome...
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