Question

Invoiced goods to Satish rupees 80000 at 12% GST and amount received by cheque

Answer 1

Answer:

The journal entry is as:

Bank A/c......................Dr   80,000

Input CGST..................Dr     4,800

Input SGST A/c............Dr    4,800

           To Satish A/c.............Cr           89,600

Explanation:

Working Note:

Input CGST = Amount * GST rate

                   = 80,000 * 6%

                   = 4,800

Input SGST = Amount * GST rate

                   = 80,000 * 6%

                   = 4,800