Perior Period Transactions reg

Well you please elaborate regarding GST demand . what for you paid ?.

For not preparing the way bill, we paid the demand in DRC-07

Please refer AS 5 prior period Expense , if you are Firm . You have to show seperately in profit and losss account , as a prior period Expense for E.way bill of F.Y 20-21 paid in the current year .

pass entry

E way expenses for F.Y 20-21 A/c Dr
To Bank A/c Cr
( payment made towards demand of F.Y 20-21).

Note - You can show prior period Expense in the current year as per AS 5 .

Thank you Expert