Navigating GST Accounting Entries: A 2024 Guide

The Goods and Services Tax (GST) has unified indirect taxation under the 'One Nation One Tax' initiative, simplifying the complex VAT and excise systems. Proper comprehension and accurate accounting of GST entries are crucial for maintaining alignment between financial records and GST filings such as GSTR-1 , GSTR-2B , and GSTR-3B , ultimately facilitating accurate filing of GSTR-9 at the end of the fiscal year.