Question

Purchase goods from vikram & Sons ₹120000@18%GST and paid half the amount immediately

Answer 1

Answer:

The following journal entry will be there if the goods are sold in different state.

Purchases A/c         Dr.              1,20,000

Input IGST A/c         Dr.                 21,600

             To Vikram and Sons                      70,800

             To Cash A/c                                    70,800