Reversal ITC in books
mahesh chitpur (nothing) (59 Points)
03 March 2021Now have reversed ITC in my books by passing accounting entry.
Creditor a/ c dr 50
To ITC Receivable A/c 50
Being Input Tac Credit reversed due to wrong uploading of invoice/ non uploading of invoice by supplier in GSTR- 1
Now I want recover GST amount paid by me on Purchase as Supplier failed to upload invoice.
Now recovery of gst amount from supplier is my income or not.
Please, guide me with Detailed accounting entries in books.
Thanks in advance