Gst amount reverse in the next year
kapil upreti (11 Points)
25 May 2024kapil upreti (11 Points)
25 May 2024
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 25 May 2024
Reversal of GST by GST 3B neither treat expenses nor treat as drawing in capital account
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 May 2024
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 27 May 2024
If the reversal is related to capital goods credit, you can capitalize to the relevant asset.
In all other cases, it should be charged off to P/L A/c