Please suggest how to transfer ineligible gst to the respective heads when there is more than one transaction in ineligible gst?
What will be the journal entries for that.
And what is the respective head in this?
Menu
Tranafer of ineligible gst
Replies (6)
Suppose Car is Purchased.
Car A/c ......Dr
ITC A/c .......Dr
To Party.......CR.
ITC ineligible U/s 17(5)
Car A/c .....Dr.
To ITC A/c...Cr
Being ITC tranfer on a/c of ineligible u/s 17(5)
Car A/c ......Dr
ITC A/c .......Dr
To Party.......CR.
ITC ineligible U/s 17(5)
Car A/c .....Dr.
To ITC A/c...Cr
Being ITC tranfer on a/c of ineligible u/s 17(5)
Pankaj ji, I did not understand your second Part?
Pankaj ji, thank you for your valuable reply. But what to do if there is more than one transactions, should i do this one by one or otherelse? Please reply
And also there is more than one head of expense.
PASS SEPRATE ENTRY FOR EACH HEAD ,...
DEAR VINOD JI
2ND ENTRY WILL BE REFLECT IN 3B UNDER ROW 17(5) (REVERSAL OF ITC)
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
