If Input GST is more than Output GST it is called GST Credit.

We calculate it Separately for different types of GST

GST Computation.jpg

Question 2

Sales Amount Within State 60000

Purchase Amount Within State 70000

GST Rate

CGST 9%

SGST 9%

Calculate GST Payable

View Answer

Difference  between GST Payable and GST Credit

 

GST PAYABLE GST CREDIT
If Output is more than Input, It is Called GST payable If Input is more than Output, It is Called GST Credit 
We need to pay challan to Pay tax

No need to pay Challan to pay tax

It is added to Input of next Month

 

Note:-

Challan is a form used to pay tax

It is required only if tax is payable not used in case of tax credit

5.jpg

 

Go Ad-free
CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.