In form 3cb 3cd i.e audit there is Cenvat credit/ itc pt no.27(a)
Please tell in this point what to do
4 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 17 August 2020
Details of total GST ITC availed of or utilised during the previous year and its treatment in the P&L and treatment of outstanding GST ITC in the balance sheet is to be reported.
vibhuti agarwal
(26 Points)
Replied 17 August 2020
If there is no treatment in Pl then can we leave or we have to put amount and in PL value will be nil??
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 17 August 2020
You can Give note like " The assessee follows the exclusive method of accounting for GST in the books of account" ..or.."Not routed through Profit & Loss Account"
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