27 August 2023
Whether GST Input can be transferred to profit and loss account,when we want not to claim further as input and transferred to P/L account,
03 September 2023
Unclaimed ITC should be reversed. Unclaimed ITC as GST Exp(account) should not be t/f to P&L. GST would be t/f to respective account and thereafter to Trading/P&L/Balance Sheet depending upon the nature of expense.
CAclubindia
