Whether GST Input and Output can be net off and shown as netted off in Balance Sheet?
4 Replies
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 21 May 2018
Yes, only the net balances need to be reported
Sudhir Mundhra
(Executive)
(23 Points)
Replied 21 May 2018
it would be great if you can help me with any institute guidelines...
VIPINKUMAR K TIWARI
(Financial Professional)
(196 Points)
Replied 11 February 2020
Payable & Receivable both shown in Balance Sheet. Only for Payment Cash Ledger Journal Entries Passed to Net Off.
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