No ITC reversal on payment settled by Book Adjustments Payment through adjustment of the books of accounts is a prevalent commercial practice which also finds support in Ind AS 32 which establishes the principles for offsetting financial assets and financial liabilities.
Tags
accountant
accounting
accounts
charted accountants
Finance
Financial Management
Financial Statements
No ITC reversal on payment settled by Book AdjustmentsAnand Gupta
TaxGuru