Question15:

A company is registered under Composition Scheme of GST and have paid GST for two quarters i.e. Q3 & Q4 of FY2017-18.
As GST has been paid by Company without collection from the customers and no ITC is available then can we claim as expense and under which head ?.

Answer

You can book this expense under head Duties and Taxes or as per your convenience, you can give any title to the account like Goods and Service Tax/ GST expense etc. (Reply dt. 24/4/2018)