Question

please tell me both questions answers​

Answer 1

Answer:

1. *Personal Account*

Debit the Receiver.

Credit the Giver

*Real Account*

Debit What comes in.

Credit what goes out.

2. This GST that is charged and collected is known as output tax. Output tax must be paid to IRAS. The GST that you incur on business purchases and expenses (including import of goods) is known as input tax.