Can we debit to p& l a/c
1- penalty paid on account of late payment of GST due.
2- Interest for late payment of Gst due.
3. Late filing of GST Return.
4. Interest on late payment TDs in TD.
5. penal charges for not filing of TDs return.
please, answer.
Menu
Penalty
Replies (3)
yes u can debit it to pl because its business related expences
You can account to PandL account for the point 2,3,4.
And You can account point 5 in PandL account but, It's disallowed at the time of Filing ITR...
I can't understand point no 1...
What is penalty paid...?
And You can account point 5 in PandL account but, It's disallowed at the time of Filing ITR...
I can't understand point no 1...
What is penalty paid...?
I wrongly put that question
Recent Topics :
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
Related Topics :
CAclubindia
