GST on Central purchases and Sales of Manufacturer

Last updated at April 16, 2024 by

Currently on Central purchases,CST is charged for which we do not get any Input
However,on sales,we have to pay CST

Q1

Purchase Semi Finished Goods

Particulars Amount Particulars Amount
Purchase 40000 Purchase 60000
Excise 12.5% 5000 Excise 12.5% 7500
Total 45000 Total 67500
Vat 5% 2250 CST 2% 1350
Total 47250 Total 68850

Sales  Finished Goods

Particulars Amount Particulars Amount
Sales 120000 Sales 20000
Excise 15000 Excise 2500
Total 135000 Total 22500
Vat 5% 6750 CST 2% 450
Total 141750 Total 22950

What is Excise Duty Payable?

View Answer

What is Vat and CST Payable?

View Answer

Note:-

After Implementation of GST,on Central Purchase and Sales, IGST wil be charged
Input of these can be adjusted in this order
1. IGST on Sales
2. CGST on Sales
3. SGST on Sales

Example

Purchase Semi Finished Goods

Particulars Amount Particulars Amount
Purchase 40000 Purchase 60000
CGST 2.5% 1000 IGST 5% 3000
SGCT 2.5% 1000    
Total 42000 Total 63000

Sales  Finished Goods

Particulars Amount Particulars Amount
SALES 120000 SALES 20000
CGST 2.5% 3000 IGST 5% 1000
SGCT 2.5% 3000    
Total 126000 Total 21000

What is GST Payable?

View Answer
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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.