Question

can u please solve me entry 20

Answer 1

workings

bank charges inclusive of GST @ 12%

taxable value = invoice value *100/112

=5600*100/112

=5000

GST amount = Invoice value *12/112

=5600*12/112

=600

CGST = 5000*6% =300

SGST =5000*6% =300

Generally bank charges automatically debited in our bank account therefore

im crediting bank account instead of cash .

Journal entry

BAnk charges A/c Dr 5000

CGST A/c Dr 300

SGST A/c Dr 300

To bank A/c 5600

(Being bank charges paid )

Hope its usefull..!!