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

We calculate it Separately for different types of GST

GST Computation.jpg

Question 2

Sales Amount Within State 60000

Purchase Amount Within State 70000

GST Rate

CGST 9%

SGST 9%

Calculate GST Payable

View Answer

Differnce between GST Payable and GST Credit

-a-

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

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. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. GST for Exams

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 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .