Sir..
How make entry for Opening Balance of ITC in Tally..
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Opening Balance of ITC in Tally
Replies (6)
Create ledger ," Balance with Revenue Authority " under current assets , show opening balance in the ledger .
Would it reflect in STATUTORY REPORT OF GST
When you will take credit in the current year , Balance with Revenue Authority A/c will be credited. and CGST , SGST and IGST will be debited as the case may be and will reflect in report .
Thanks a lot sir..
Well come dear
Even I had this issue and came across this answer. We are splitting company at year end in Tally after splitting I created the ledger as suggested by you with respective Dr balance. But it is showing difference in opening balances in balance sheet for the same amount.
Can you suggest some option to resolve this?
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