Accountancy, asked by jhlkprmr1511, 1 month ago

GST input recievable A/C is

Answers

Answered by RealSweetie

13

Answer:

Basis above, GST input credit is an item that would not meet the definition of a financial instrument, as it is not based on contract between the entity and the tax authority, but arising from statute. Accordingly, GST input credit shall be presented as “other non-current/current assets” in the balance sheet.

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