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DETAILS OF PURCHASES : -
A LTD Bill to:- My Co
Bill to:- My Co
| Particular | Amount |
| PLASTIC | 100000 |
| 20000 KG*50 | |
| CGST 9% | 9000 |
| SGST 9% | 9000 |
| TOTAL | 118000 |
B LTD Bill to:- My Co
Bill to:- My Co
| Particular | Amount |
| RUBBER | 20000 |
| 40 KG*500 | |
| CGST 2.5% | 500 |
| SGST 2.5% | 500 |
| TOTAL | 21000 |
DETAILS OF SALES :-
MY CO Bill to:- X Ltd
Bill to:- X Ltd
| Particular | Amount |
| PLASTIC | 160000 |
| 20000 KG*80 | |
| CGST 9% | 14400 |
| SGST 9% | 14400 |
| TOTAL | 188800 |
MY CO Bill to:- Y Ltd
Bill to:- Y Ltd
| Particular | Amount |
| RUBBER | 24000 |
| 40 KG*600 | |
| CGST 2.5% | 600 |
| SGST 2.5% | 600 |
| TOTAL | 25200 |
ENTRY FOR PURCHASE : -
View AnswerPurchase Local Plastic A/cDr 100000
Input CGST 9% Dr 9000
Input SGST 9% Dr 9000
To A Ltd 118000
Purchase Local Rubber A/cDr 20000
Input CGST 2.5% Dr 500
Input SGST 2.5% Dr 500
To A Ltd 21000
ENTRY FOR SALES:-
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X LTD Dr 188800
To Sales Local Plastic 160000
To Output CGST 9% 14400
To Output SGST 9% 14400
X LTD Dr 25200
To Sales Local Rubber 24000
To Output CGST 2.5% 600
To Output SGST 2.5% 600
ENTRY FOR ADJUSTMENT OF OUTPUT AND INPUT CGST
-a-
Output CGST 9% 14400
Output CGST 2.5% 600
To Input CGST 9% 9000
To Input CGST 2.5% 500
To CGST Payable 5500
ENTRY FOR ADJUSTMENT OF OUTPUT AND INPUT SGST
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Output SGST 9% 14400
Output SGST 2.5% 600
To Input SGST 9% 9000
To Input SGST 2.5% 500
To SGST Payable 5500
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Suppose Amount Deposited in Electronic Cash ledger(GST PMT-05) Rs 10500.700 Opening Balance Available
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Electronic Cash ledger(GST PMT-05) A/c Dr 10500
To Bank 10500
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GST Liability Adjusted Against Electronic Cash ledger(GST PMT-05). Pass Entry
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CGST Payable Dr 5500
To Electronic Cash Ledger(GST PMT-05) 5500
SGST Payable Dr 5500
To Electronic Cash Ledger(GST PMT-05) 5500
-ea-
Entry for Balance Left in GST PMT-05. Pass Entry
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- Balance Left in GST PMT-05=700+10500-5500-5500=200
- No Entry will be passed for the same
-
It will be used for Adjusting GST Payable for the next period
-ea-
