Last updated at July 20, 2020 by Teachoo
English Video
Hindi Video
Tax on Sales is Output
Tax on Purchase in Input
If Output is more than Input, Diff is GST Payable
If Input is more Than Output, Diff is GST Credit
Sales Local 100000
Purchase Local 60000
GST Rate 5%
Calculate GST Payable
GST Computation Format:-
Transcript
Q 1 TAX ON SALES IS OUTPUT Tax On Sales Is Output Sales Local 100000 TAX ON PURCHASE IN INPUT Tax On Purchase In Input Purchase Local 60000 IF OUTPUT IS MORE THAN INPUT,DIFF IS GST PAYABLE If Output Is More Than Input,Diff Is Gst Payable IF INPUT IS MORE THAN OUTPUT,DIFF IS GST CREDIT If Input Is More Than Output,Diff Is Gst Credit GST Rate 5% Calculate GST Payable GST Computation Format:- PARTICULARS TAXABLE VALUE CGST SGST TOTAL TAX TAX ON OUTWARD SUPPLIES (OUTPUT GST) 100000 2500 2500 5000 INPUT TAX CREDIT(INPUT GST) 60000 1500 1500 3000 GST PAYABLE (BY CASH) 1000 1000 2000 OR GST CREDIT CARRY FORWARD
About the Author
