21 December 2017
IF PROVISION FOR AUDIT FEE WAS MADE IN ASSESSEE'S BOOKS ON 31.03.2017 (ON MERCANTILE ACCOUNTING BASIS) AND BILL FOR AUDIT FEE WAS RECD. ON 31.10.2017 AND GST CHARGED BY AUDITOR ON ABOVE BILL (CA'S ACCOUNTS ARE PREPARED ON CASH BASIS) THEN WHETHER ASSESSEE CAN TAKE CREDIT OF GST PAID ON THAT AUDIT FEE BILL. BECAUSE ASSESSEE HAS ALREADY BOOKED EXPENSES IN PREVIOUS YEAR AND MADE PAYMENT OF BILL ONLY IN CURRENT YEAR. PLS REPLY HOW ACCOUNTING ENTRY PASS IN BOOKS OF ASSESSEE.
22 December 2017
Yes... He can.
But, Check the value of Provision amount and the bill amount...
The provision value is only basic value then you ll adjust the bill's basic value to Provision value and Tax values to your ITC head....
CAclubindia
