adjustments
Tatavarty Prakasarao (132 Points)
01 June 2018
can we adjust late fees from electronic credit ledger
3 Replies
Bibek jaiswal
(Accountant)
(528 Points)
Replied 01 June 2018
No you can't adjust late fee. You have pay amount under late fees head
(Guest)
Input tax credit can be utilized only for the payment of output tax and the definition for which is _output tax” in relation to a taxable person, means the tax chargeable under this Act on taxable supply of goods or services or both made by him or by his agent but excludes tax payable by him on reverse charge basis.
All other things will have to be paid in cash i. e. Through e cash ledger
All other things will have to be paid in cash i. e. Through e cash ledger
Vinod Babu
(24191 Points)
Replied 01 June 2018
Not possible to adjust late fee from electronic credit ledger
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