Sheetal (Job) (48 Points)
17 October 2023In last month 3B, instead of utilising cash for payment of GST liability we have wrongly utilised ITC balance. (ITC balance is of business whereas GST liability was for rental income)
Cash payment was already done. so we have cash balance
How to rectify.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 October 2023
Sheetal
(Job)
(48 Points)
Replied 17 October 2023
Business is of manufacturing. Since it is proprietary we have to levy Gst on rent also.
All itc is for the business purposes.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 17 October 2023
CAclubindia
