18 September 2023
My client has shown puchase and sale (inclusive of gst) and debited gst from p&l for last 2 years as expense . is it wrong ? how to recitfy it
18 September 2023
the client is under regular scheme. how will he justify the itc claimed as he has not mentioned it under duties and taxies. Also , YES we want to switch it over so how to pass the adjustment entry to include gst it in the balance sheet. As in what should be adjusted against the gst balance in order to match it the available ITC balance on gst portal
18 September 2023
No, it's ITC claimable in case ITC credit in credit ledger. It's a debit to p and l as GST expenses. Tell me what is your year end balance in GST credit ledger.
CAclubindia
