A, B & C are partners of ABC Agency (sold only Cement & steel)
"A" purchased fixed asset Computer (not a stock item)
ABC agency claimed GST ITC (IGST) on Computer...
What is accounting entry for the above
What ll be the purchase entry and what ll be the journal entry?
3 Replies
CA.Pankaj Rawat
(Chartered Accountant)
(1381 Points)
Replied 16 March 2019
Computer A/c---------------------Dr
Input IGST A/c--------------------Dr
To Party A/c (If Purchase on credit)
or
To Bank A/c (If Purchase cash,)
sudhakar reddy
(B.Com)
(24 Points)
Replied 16 March 2019
PURCHASE AIC ...DR
INPPUTTAX AIC...DR
TO COMPURTE AIC ...CR
Recent Topics
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
Related Threads
CAclubindia
