Menu
reversal of itc in case of fabrics
what adjustment entry to be passed in respect of reversal of ITC in case of fabrics for the FY 2017- 18 while finalizing the books of accounts as the same has already lapsed though at the GST portal it will be reversed in the 3b of August month. As currently ITC receivable due to inverted duty structure is reflecting as current asset in books of accounts
Replies (4)
Need to increase stock in the same fabric
Stock/Purchase/Direct exp. ....Dr
To ITC ........CR
.
To ITC ........CR
.
@ Pankaj Sir I was right na?
Dear rohit U are correct ....
Recent Threads
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
Related Threads
CAclubindia
