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GST Credit of One Month is added to input of Next Month

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Treatment of GST Credit.jpg







GST Credit is Added to Input of Next Month JANUARY Purchase-20000 IGST 1000 Total 21000 Sales-18000 IGST-900 Total-18900 OUTPUT-900 INPUT-1000 GST Payable GST Credit 100 FEBRUARY Purchase-30000 IGST-1500 Total-31500 Sales-40000 IGST-2000 Total-42000 Output-2000 Input 1500 ADD OPENING CREDIT=100 TOTAL INPUT 1600 GST Payable 400

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.