Question

Journalise the following transactions in the books of Kamal for the period April 2020

(CGST and SGST is Levied @9% each on intra state and IGST 18% on Interstate transactions)

April 1 Kamal Started business with cash - 100000

April 2 Bought goods for cash -30000

April 3 Opened a bank Account with cash -50000

April 7 Bought goods from surya Kanpur -30000

April 10 Sold Goods to Rakesh Delhi -25000

April 12 Purchased Machinery from Rahul bros and the

payment made by cheque -20000

April 24 Paid to surya in cash account -20000

April 25 Goods returned to Surya -5000

April 26 Purchased stationery for cash -500

April 28 Paid wages and salaries (GST not levied) -10000​

Answer 1

Answer:

RBI has clarified that non -cash withdrawal transactions ... limit of deposit insurance in India at Rs 1 lakh, the ... NHB was part of the RBI till April this year when.