Gst input and output and paid and late fees,int

This query is : Resolved

Kollipara Sundaraiah (Querist)
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09 May 2020 Any gst registered dealer gst input tax claim and output tax claim and gst tax paid and late fees and Interest paid ledgers create under groups heads.

c.bakshi

c.bakshi (Expert)
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11 May 2020 duties and liabilities :interest and penalities. however, income tax act disallowed all expenses which are incurred due to default of assessee.
input tax credit: same like input vat
output tax credit: as same as output vat
create GST PAYABLE/RECEIVABLE A/C for payment of GST under Current liabilities