How to Classify GST ITC in Accounting | Current & Non-Current Assets Guide

#GSTInputTaxCredit #GSTAccounting #CurrentVsNonCurrent

Learn how to classify GST Input Tax Credit (ITC) as Current vs Non-Current Assets! This video is perfect for accountants, finance professionals, and GST practitioners who want to ensure accurate accounting, proper balance sheet presentation, and compliance with GST regulations.

In this video, we cover:

Introduction to GST Input Tax Credit – Basics and eligibility criteria

Current vs Non-Current Classification – How to identify and record ITC correctly

Accounting Treatment – Journal entries and balance sheet presentation

Common Mistakes to Avoid – Practical examples of misclassification

Impact on Financial Statements – Ensuring accuracy and compliance

By the end of this video, you’ll be able to classify GST ITC correctly, improve your accounting accuracy, and avoid common errors that can affect audits and financial reporting.

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