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Level 1

IN : how to pass deferred tax adjustment ?

I want to know how do we pass the journal entry when there is  deferred tax is there for the month and how do we find that there is a deferred

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Best answer 09-27-2019

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Level 2

Hi,  You need to create journal entry from plus icon. Ple...

Hi, 

You need to create journal entry from plus icon. Please select the accounts mentioned below:

Deferred GST Input Credit           Dr. XXXX

Input CGST                                                  Cr. XXXX

Input SGST                                                  Cr. XXXX

For any further clarification, reach us on the https://help.quickbooks.intuit.com/en_IN/contact

Thanks

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Level 2

Hi,  You need to create journal entry from plus icon. Ple...

Hi, 

You need to create journal entry from plus icon. Please select the accounts mentioned below:

Deferred GST Input Credit           Dr. XXXX

Input CGST                                                  Cr. XXXX

Input SGST                                                  Cr. XXXX

For any further clarification, reach us on the https://help.quickbooks.intuit.com/en_IN/contact

Thanks

View solution in original post

Level 1

Re: Hi, You need to create journal entry from plus icon. Ple...

What can be the difference if I use individual GST categories instead of "Input Credit"

Like "Deferred IGST", "Deferred SGST", "Deferred IGST" ?

QuickBooks Team

Re: Hi, You need to create journal entry from plus icon. Ple...

Hi jd4u, thank you for your reply. Yes, that is correct. Please select 'Deferred IGST, Deferred SGST and Deferred CGST desperately to use this credit next month.

Level 1

Re: Hi, You need to create journal entry from plus icon. Ple...

I was looking for difference between using "Deferred GST Input Credit" vs "Deferred IGST/CGST/SGST".....

QuickBooks Team

Re: Hi, You need to create journal entry from plus icon. Ple...

Hi jd4u, thank you for your reply. If you use the account ''Deferred GST Input Credit". the amount will be in one account. When you select 'Deferred IGST/CGST/SGST", amount will be segregated to individual accounts.