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If Input GST is more than Output GST it is called GST Credit.

We calculate it Separately for different types of GST

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Question 2

Sales Amount Within State 60000

Purchase Amount Within State 70000

GST Rate

CGST 9%

SGST 9%

Calculate GST Payable

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GST Computation Format:-

PARTICULARS AMT CGST SGST TOTAL GST
Output GST 60000 5400 5400 10800
input GST 70000 6300 6300 12600
GST PAYABLE   0 0 0
GST Credit   900 900 1800

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Differnce between GST Payable and GST Credit

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GST PAYABLE GST CREDIT
If Output is more than Input, It is Called GST payable If Input is more than Output, It is Called GST Credit 
We need to pay challan to Pay tax No need to pay Challan to pay tax

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Note:-

Challan is a form used to pay tax

It is required only if tax is payable not used in case of tax credit

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  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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