Pls comment : Balance as per electronic cash ledger should tally with laiblity/payable OR receivable in ase of ITC towards GST in books of accounts at a given particular date ?
2 Replies
Aditi Badaya
(Student)
(26 Points)
Replied 31 May 2020
Yes if all your returns(GSTR 3B) have correctly i.e in lined with your accounts, been submitted then balance as on particular date of both books and cash ledger will tally.
Hardik Hindocha
(93 Points)
Replied 31 May 2020
Your E-Cash ledger balance is amount payable in cash (when available/eligible ITC falls short against balance in E-liability register).
So as per simple math, Your Cash ledger should be equal to Your Liability Register (less) Eligible ITC
So as per simple math, Your Cash ledger should be equal to Your Liability Register (less) Eligible ITC
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
