Entry for Sales and Sales Return with and Without GST

Last updated at Dec. 16, 2024 by

Entry for Sales Return is opposite of Sales

We know that Sales Entry is

Party Dr

To Sales

 

So, Sales Return entry will be

Sales Return Dr

To Party

(Instead of Sales Return Account, some people use Sales Account which is also correct)

 

Similarly, Entry for Sales Return with GST will be

Sales Return Dr

Output GST Dr

To Party

 

Note

Output GST will be Debited, (not Input) because When we sell we have to pay output. We return goods, we reduce this output

 

 

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Transcript

Sales 200000 to B B Dr To Sales 200000 200000 210000 200000 B Dr To Sales Interstate 5% To Output IGST 5% 10000 210000 200000 B Dr To Sales Local 5% To Output SGST 2.5% 5000 5000 To Output CGST 2.5% Without GST With IGST 5% With CGST SGST Sales Return 30000 Sales Return/Sales Dr To B 30000 30000 30000 1500 Sales Return/Sales Interstate 5% Dr Output IGST 5% Dr To B 31500 30000 Sales Return/Sales Local 5% Dr 750 Output CGST 2.5% Dr Output SGST 2.5% Dr 750 To B 31500 Entry for Sales and Sales Return

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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.