A is a partnership firm and registered under GST. While booking expense, for example:
Purchased printing and stationery 4000.00 cgst 450.00 sgst 450.00 ----------------------------------------------------------------- Total 4,900.00 in normal case, we will show as expense Rs.4000/- and 450/- each(CGST+SGST) will goes to input tax credit. , but we understood that, the other party(supplier of stationery) is not submitted return. So can we make journal entry full amount as expense : that is Printing & stationery ---dr 4900/- To cash 4,900/-
kindly reply ..................have any problem...if the tax amount will become the part of business expense? Have any rule only cost of expense, must part of Business expenditure?
Thanks in advance....if any notication /sec /rule please quote
CAclubindia
