Chapter 4 GST Entries
Chapter 4 GST Entries
Last updated at Dec. 16, 2024 by Teachoo
Purchase Local 5% Input CGST 2.5% 100000 2500 First Purchase then Payment Input SGST 2.5% To Party 2500 105000 20% Payment in Advance, then purchase, Then Balance Payment First Payment in Advance then Purchase Party To Bank 105000 105000 Party To Bank 105000 105000 Purchase Local 5% Input CGST 2.5% 100000 2500 Input SGST 2.5% To Party 2500 105000 Party To Bank 21000 21000 Purchase Local 5% Input CGST 2.5% 100000 2500 Input SGST 2.5% To Party 2500 105000 Party To Bank 84000 84000 Purchase and Payment Entries with GST Suppose Purchase is of 100000+% GST Purchase Local 5% Input CGST 2.5% 100000 2500 20% Payment in Advance, then Purchase, Then Balance Payment Input SGST 2.5% To Party 2500 105000 20000 Payment in Advance, then Purchase, Then Balance Payment Party To Bank 21000 21000 Party To Bank 84000 84000 Purchase Local 5% Input CGST 2.5% 100000 2500 Input SGST 2.5% To Party 2500 105000 Party To Bank 20000 20000 Party To Bank 85000 85000 Comparision