A, B & C are partners of ABC Agency (sold only Cement & steel)
"A" purchased fixed asset Computer (not a stock item)
ABC agency claimed GST ITC (IGST) on Computer...
What is accounting entry for the above
What ll be the purchase entry and what ll be the journal entry?
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what is the journal entry for the below
Replies (3)
Computer A/c---------------------Dr
Input IGST A/c--------------------Dr
To Party A/c (If Purchase on credit)
or
To Bank A/c (If Purchase cash,)
PURCHASE AIC ...DR
INPPUTTAX AIC...DR
TO COMPURTE AIC ...CR
Computer a/c. Dr.
IGST Receivable on Goods a/c. Dr.
To Creditors a/c.
IGST Receivable on Goods a/c. Dr.
To Creditors a/c.
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