Can we debit to p& l a/c
1- penalty paid on account of late payment of GST due.
2- Interest for late payment of Gst due.
3. Late filing of GST Return.
4. Interest on late payment TDs in TD.
5. penal charges for not filing of TDs return.
please, answer.
Menu
Penalty
Replies (3)
yes u can debit it to pl because its business related expences
You can account to PandL account for the point 2,3,4.
And You can account point 5 in PandL account but, It's disallowed at the time of Filing ITR...
I can't understand point no 1...
What is penalty paid...?
And You can account point 5 in PandL account but, It's disallowed at the time of Filing ITR...
I can't understand point no 1...
What is penalty paid...?
I wrongly put that question
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
