Question

GST UNDWE WHICH ACCOUNT DOES IT COME

Answer 1

Answer:

There will be only three accounts under each of them- SGST, CGST, IGST instead of maintaining current excise payable, CENVAT credit, VAT payable, VAT credit, Service tax accounts. GAAP is applicable mandatorily on GST. So, all principles following revenue recognition etc. will be applicable.

Explanation:

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