Journal entry for purchase of goods with gst
Answers
Answer:
( If the goods are purchased on cash basis then....)
Purchases A/C.........Dr
Input CGST A/C.......Dr
Input SGST. A/C.......Dr
To Cash A/C
( If the goods are purchased on credit basis then.....)
Purchases A/C.......Dr
Input CGST A/C. Dr
Input SGST A/C. Dr
To creditor's A/C
( write the creditor's name in place of creditor's A/c )
Now , have a look on the examples
1 ) purchased goods from ravi with cash and gst ( this is an example of cash transaction )
Purchases A/C........Dr
input CGST A/C......Dr
input SGST A/C......Dr
to Cash A/C
2 ) purchased goods from ravi on credit with gst ( this is an example of credit transaction )
Purchases A/C......Dr
input CGST A/C.....Dr
input SGST A/C.....Dr
To Ravi's A/C
I hope this will help you !