what will second effect of gst paid on purchases In composition scheme
1) we can add in purchase
2)we can claim as indirect expenses
3)it will reflect in capital a.c. as it is duties taxes paid to govt
Menu
second effect of gst paid in accounting
Replies (2)
you should mention it as direct or indirect expenses.
1. If you receive supplies for purchase related You ad it your purchase head.
If you receive supplies for expense related then you can add your expenditure account.
2. You follow Above said way.
3. No. It's not reflect in your (Capital account...?). And this purchase is not included any Taxes. So, It's not reflect your balance sheet. Just it shown in your PandL account....
If you receive supplies for expense related then you can add your expenditure account.
2. You follow Above said way.
3. No. It's not reflect in your (Capital account...?). And this purchase is not included any Taxes. So, It's not reflect your balance sheet. Just it shown in your PandL account....
Recent Topics :
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
Related Topics :
CAclubindia
