Chapter 4 GST Entries
Entries for Sales with and Without GST
Entry for Purchase and Purchase Return with and without GST
Entry for Sales and Sales Return with and Without GST You are here
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
Entry for Sales Return is opposite of Sales
We know that Sales Entry is
Party Dr
To Sales
So, Sales Return entry will be
Sales Return Dr
To Party
(Instead of Sales Return Account, some people use Sales Account which is also correct)
Similarly, Entry for Sales Return with GST will be
Sales Return Dr
Output GST Dr
To Party
Note
Output GST will be Debited, (not Input) because When we sell we have to pay output. We return goods, we reduce this output
Sales 200000 to B B Dr To Sales 200000 200000 210000 200000 B Dr To Sales Interstate 5% To Output IGST 5% 10000 210000 200000 B Dr To Sales Local 5% To Output SGST 2.5% 5000 5000 To Output CGST 2.5% Without GST With IGST 5% With CGST SGST Sales Return 30000 Sales Return/Sales Dr To B 30000 30000 30000 1500 Sales Return/Sales Interstate 5% Dr Output IGST 5% Dr To B 31500 30000 Sales Return/Sales Local 5% Dr 750 Output CGST 2.5% Dr Output SGST 2.5% Dr 750 To B 31500 Entry for Sales and Sales Return
