web analytics

DETAILS OF PURCHASES : -

A LTD Bill to:- My Co

Bill to:- My Co

Particular Amount
PLASTIC 100000
20000 KG*50  
CGST 9% 9000
SGST 9% 9000
TOTAL 118000

B LTD Bill to:- My Co

Bill to:- My Co

Particular Amount
RUBBER 20000
40 KG*500  
CGST 2.5% 500
SGST 2.5% 500
TOTAL 21000

DETAILS OF SALES :-

MY CO Bill to:- X Ltd

Bill to:- X Ltd

Particular Amount
PLASTIC 160000
20000 KG*80  
CGST 9% 14400
SGST 9% 14400
TOTAL 188800

MY CO Bill to:- Y Ltd

Bill to:- Y Ltd

Particular     Amount
RUBBER 24000
40 KG*600  
CGST 2.5% 600
SGST 2.5% 600
TOTAL 25200

ENTRY FOR PURCHASE : -

-a-

Purchase Local Plastic A/cDr 100000

Input CGST 9% Dr 9000

Input SGST 9% Dr 9000

To A Ltd 118000

 

Purchase Local Rubber A/cDr 20000

Input CGST 2.5% Dr 500

Input SGST 2.5% Dr 500

To A Ltd 21000

-ea-

ENTRY FOR SALES:-

-a-

X LTD Dr 188800

To Sales Local Plastic 160000

To Output CGST 9% 14400

To Output SGST 9% 14400

 

X LTD Dr 25200

To Sales Local Rubber 24000

To Output CGST 2.5% 600

To Output SGST 2.5% 600

-ea-

ENTRY FOR ADJUSTMENT OF OUTPUT AND INPUT CGST

-a-

Output CGST 9% 14400

Output CGST 2.5% 600

To Input CGST 9% 9000

To Input CGST 2.5% 500

To CGST Payable 5500

-ea-

ENTRY FOR ADJUSTMENT OF OUTPUT AND INPUT SGST

-a-

Output SGST 9% 14400

Output SGST 2.5% 600

To Input SGST 9% 9000

To Input SGST 2.5% 500

To SGST Payable 5500

-ea-

Suppose Amount Deposited in Electronic Cash ledger(GST PMT-05) Rs 10500.700 Opening Balance Available

-a-

Electronic Cash ledger(GST PMT-05) A/c Dr 10500

To Bank 10500

-ea-

GST Liability Adjusted Against Electronic Cash ledger(GST PMT-05). Pass Entry

-a-

CGST Payable Dr 5500

To Electronic Cash Ledger(GST PMT-05) 5500

 

SGST Payable Dr 5500

To Electronic Cash Ledger(GST PMT-05) 5500

-ea-

Entry for Balance Left in GST PMT-05. Pass Entry

-a-

  1. Balance Left in GST PMT-05=700+10500-5500-5500=200
  2. No Entry will be passed for the same
  3. It will be used for Adjusting GST Payable for the next period

-ea-

  1. Accounts and Finance
  2. Accounts with Taxes
Ask Download

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