Menu
refundable of tax increase or decrease in profit
if a company has gst amount refundable from govt, then whether it will increase or decrease the profit and how we have to settle this entry.
Replies (2)
No impact... Earlier u deposited excess amount towards gst and now get refunded... Gst is indirect tax and not urs liability... U just collect from the customer and deposit it to government
Pass entry through gst payable account... Earlier u do a entry gst payable a/c dr to bank A/c.... Now pass Bank A/c dr to gst payable account.... Gst payable account set off
Recent Topics :
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
Related Topics :
CAclubindia
