Chapter 4 GST Entries
Entries for Sales with and Without GST You are here
Entry for Purchase and Purchase Return with and without GST
Entry for Sales and Sales Return with and Without GST
Entry for Expenses if ITC Available or Not
Purchase and Advance Payment with GST
Entry for Sales and Advance Received with GST
Entry for Advance Received in Case of Goods and Services
Entry for Asset Purchase with and Without GST
Chapter 4 GST Entries
Last updated at April 16, 2024 by Teachoo
We know that Sales entry is
Party Dr
To Sales
Explanation-Sales is an Income, all Incomes are Credited
Party is Sundry Debtor, an Asset, when Asset Increases it is Debited
Same Entry with GST is
Sales Dr
To Party
To Output GST
Explanation-
We have to pay this GST, so it is liability for us. When liability increases it is credited.
Let’s learn about it with the help of an example
B Dr To Sales 200000 200000 210000 200000 B Dr To Sales Interstate 5% To Output IGST 5% 10000 Sales Interstate Rs 200000 + 5% GST 210000 200000 B Dr To Sales Local 5% To Output SGST 2.5% 5000 Sales Local Rs 200000 + 5% GST 5000 To Output CGST 2.5% Entry for Sales Sales to B Rs 200000
