Following are purchase and sales of July

 

Suppose Goods Purchased as follows

PARTICULARS QTY RATE AMT
PURCHASE 15000 20 300000
CGST     27000
SGST     27000
TOTAL     354000

 

SALES MADE AS FOLLOWS

 

PARTICULARS QTY RATE AMT
PURCHASE 4000 25 100000
CGST     9000
SGST     9000
TOTAL     118000

 

Business Closed in Aug and GST No Surrendered

Prepare GST Computation for July and Aug

JULY

PARTICULARS AMT RATE CGST AMT RATE SGST
OUTPUT ON SALES 100000 9% 9000 100000 9% 9000
             
INPUT ON PURCHASE 300000 9% 27000 300000 9% 27000
             
GST PAYABLE     0     0
GST CREDIT     18000     18000

 

AUG

We have unsold qunatiy of 11000 units
we have to Reverse input on this 11000

PARTICULRS QTY RATE AMT
PURCHASE 11000 20 220000
CGST     19800
SGST     19800
TOTAL     259600
PARTICULARS AMT RATE CGST AMT RATE SGST
OUTPUT ON SALES 0 9% 0 0 9% 0
OUTPUT ON GST REVERSAL   19800     19800
TOTAL OUTPUT     19800     19800
             
INPUT ON PURCHASE 0 9% 0 0 9% 0
ADD OPENING GST CREDIT   18000     18000
TOTAL INPUT     18000     18000
             
GST PAYABLE     1800     1800
GST CREDIT            
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting

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 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.