What is Output Input and GST Payable

Last updated at April 16, 2024 by

Tax on Sales is called Output GST

Tax on Purchase and Expenses is called Input GST

We have to deposit difference of Output and Input to the government

This Difference is called GST  payable

 

Output and Input GST.jpg

 

 

What if Input is More than Output?

In that case, we do not deposit any GST to the government

This difference is called GST Credit

Transcript

What is Output and Input GST teachoo.com Purchase 40000 IGST 2000 Total 42000 Sales 60000 INPUT GST 2000 OUTPUT GST 3000 INPUT GST 2000 Gst on Purchase is called Input GST Sales 60000 IGST 3000 Total 63000 OUTPUT GST 3000 Gst on Sales is called Ouput GST GST Payable =3000-2000=1000 GST Payable=Output-Input

Ask a doubt
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.