Provision for tax entry help
Ankush (Student) (1364 Points)
13 April 2019
At what point of time should it be reversed and remove from balance sheet
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 13 April 2019
Provision for tax A/c is created before tax is paid. So, it shall be reversed at the time of payment of tax.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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