Gst registered dealer input and output adjustment net balance some amount gst tax paid.this tax paid amount transferred to p and l account or duties and taxes (balance sheet) transfer is correct
Sundaraiahk@gmail.com Asked question September 27, 2020
In case the GST amount is included in sale figure, it should be reduced from sale or debited to P&L. Otherwise if liability has been created the same should be squarred off at time of payment.
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Frah Saeed Changed status to publish October 1, 2020