Lost Goods - GST
Harshit Sarawgi (62 Points)
07 October 2022
Accounting entry & GST treatment in books for GST goods lost in transit?
Harshit Sarawgi (62 Points)
07 October 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 07 October 2022
Goods Lost in Transit A/c Dr
To Purchase A/c Cr
To CGST A/c Cr
To SGST A/c Cr
( Goods Lost in Transit)
Reverse the input tax credit as above in GSTR3B as well, as per section 17(5)(h) of the CGST act , and reduce lost stock from stock journal ,
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
