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Why gst payable is liability not an expense

Harsh sharma

CMA Inter

★ 55

30-Aug-21 11:54

484

Answers (7)

Best Answer

GST is not an expense of the company we collect it and pay it to government so basically like a mediator , its not our business expense that's why GST payable is shown as liability

roshini reddy

CA Inter

★ 1K+

30-Aug-21 11:57

Hi bro how are you ?

Himanshu Somani

CA Final

★ 97K+

30-Aug-21 13:13

Himanshu Somani

Hi bro how are you ?

I'm fine how you doin ð???

Thread Starter

Harsh sharma

CMA Inter

★ 55

30-Aug-21 13:15

Thread Starter

Harsh sharma

I'm fine how you doin ð???

I'm also doing great ... how's your studies goin?

Himanshu Somani

CA Final

★ 97K+

30-Aug-21 13:16

Himanshu Somani

I'm also doing great ... how's your studies goin?

excellent......thanks for referring @himanshu somani

Thread Starter

Harsh sharma

CMA Inter

★ 55

30-Aug-21 15:33

roshini reddy

GST is not an expense of the company we collect it and pay it to government so basically like a mediator , its not our business expense that's why GST payable is shown as liability

Okay got it...Thank you

Thread Starter

Harsh sharma

CMA Inter

★ 55

30-Aug-21 15:35

Thread Starter

Harsh sharma

excellent......thanks for referring @himanshu somani

My pleasure bro or rather my duty:)

Himanshu Somani

CA Final

★ 97K+

30-Aug-21 15:57

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