In 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.
Business is of manufacturing. Since it is proprietary we have to levy Gst on rent also.
All itc is for the business purposes.
Synergy Keystone
Mumbai
CA
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Austin Med Solutions Pvt Ltd
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CAclubindia
