Question

goods of rupees 5000 out of goods purchased within the state ,were taken by him for personal use​

Answer 1

hiiii Thanks for the free point

Answer 2

Answer:

(GST rate is not given)

so assuming 12% rate of interest then,

The journal entry for this question is :

Drawings A/c. Dr. 6200

To Purchase A/c. 5000

To Input CGST A/c 600

To Input SGST A/c 600

(Being purchased goods withdrawn from business by proprietor for personal use with reverse GST )

Explanation:

Drawings A/c(also called owner's A/c) is debited because the the owner of business is receiving/drawing the purchased goods.

As purchased goods are going out of business so and the liability of the business to pay ithe price of the purchased goods is decreasing so it is credited.

Such goods for personal use are also termed as Drawing by the proprietor. Since GST (input GST) was paid at the time of purchase of such goods, it is now to be reversed as it is not available to set off against the output GST.

Hope it helps☺️