How to close the books at year end|Year End Accounting,Compliances & Reconciliation Closure of books

[@cadeveshthakur]

How to close the books at year end|Year End Accounting,Compliances & Reconciliation Closure of books @cadeveshthakur
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[@ramudgaryadav2760]

Nice sir

[@cadeveshthakur]

Thank you 😊

[@coolguydev2001]

Nice

[@KritikaThakur-q3v]

Yes

[@fearvsgain]

😊

[@coolguydev2001]

Yes, reverse

[@somilgupta5123]

sir inventory sale-purchase krte time kon sa valuation method use krna chaheye sir fifo avg ya standard ya fifo perpretual sir

[@indiantraveller3576]

Sur bank audits hai to uspe kuch basics videos bana do 🙏

[@coolguydev2001]

23-24

[@ShivaayThakur1]

30.4.24

[@mahendargehlot5638]

I think no need to reverse, as the supplier would have shown 1 lakh on gstr1

[@cadeveshthakur]

@mahendargehlot Will your opinion will be same if in the example, Supplier has also issued credit note to the buyer

[@mahendargehlot5638]

​@@cadeveshthakurno if a credit note is issued, then the value of supply is reduced to that extent and hence ITC should be reversed

[@alokdixit4986]

If commercial credit issued then no itc reversal

[@ShivaayThakur1]

Yes