GST Account related query

Discussion in 'GST (Goods & Service Tax)' started by Vinay Kumar Goyal, Aug 22, 2017.

  1. Vinay Kumar Goyal

    Vinay Kumar Goyal New Member

    Plz help me I was an unregistered dealer before July 2017 but now I m registered in gst I had machinery amounting 150000 which was purchased in cash earlier What I do with this machinery in financial year account of financial year 2017-18
  2. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Please take as capital goods and entry is

    Dr. plant and machinery under fixed assets
    Cr. party name under sundry creditors

    for payment entry
    Dr party and cr bank or cash

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