cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Find the help you need to prepare your business, communicate with customers, and support your employees during the Coronavirus (COVID-19) outbreak. Click here
Highlighted
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

Solved
Best answer September 27, 2019

Best Answers
Highlighted
Level 2

IN : how to pass deferred tax adjustment ?

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

7 Comments 7
Highlighted
Level 2

IN : how to pass deferred tax adjustment ?

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

Highlighted
Level 2

IN : how to pass deferred tax adjustment ?

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

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

Highlighted
QuickBooks Team

IN : how to pass deferred tax adjustment ?

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.

Highlighted
Level 2

IN : how to pass deferred tax adjustment ?

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

Highlighted
QuickBooks Team

IN : how to pass deferred tax adjustment ?

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. 

Highlighted
Level 1

IN : how to pass deferred tax adjustment ?

Hi there, thanks for your suggestion.  I followed the steps shown by you.  While the amount reflects in the Deferred GST account, it still shows up in the GSTR3B Report.

 

I need a solution for i not to appear in the GSTR3B report

Highlighted
Level 3

IN : how to pass deferred tax adjustment ?

I think you may group them as "Current Assets" Category instead of "Duties & Taxes"