Handbook on Accounting Treatment under Goods and Services Tax (GST)

Handbook on Accounting Treatment under Goods and Services Tax (GST):

ICAI has released a handbook on accounting treatment under Goods and Services Tax (GST). The following treatments are covered in this handbook.

Accounting Treatment under GST

a. Accounting Treatment of Inward Supplies under GST

b. Accounting Treatment of Outward Supplies under GST

c. Accounting Treatment in case of advance payment/receipt/refund for goods/services

d. Accounting Treatment in case of distribution of Input tax credit by Input Service Distributor

e. Accounting Treatment in case of Job work

f. Accounting Treatment in case of supply through agents and intermediaries g. Accounting treatment in case of goods sent on approval basis

h. Accounting treatment in case of issue of debit note

i. Accounting treatment in case of issue of credit note

j. Accounting treatment in case of E-Commerce and TCS

k. Accounting treatment in case of GST-TDS

l. Accounting treatment in case of Capital Goods

m. Accounting treatment in case of reversal of Input tax credit

n. Accounting treatment in case of offset of tax liability

o. Accounting treatment in case of goods received in lots/batches

You can download the Handbook on Accounting Treatment under Goods and Services Tax (GST). Please click on the following link to download this PDF.

Final Handbook on Accounting Treatment under GST(20-6-19)