Question

Purchased goods for Rs 20,000 from X and supplied it to Y for Rs. 26,000. Y returned goods worth Rs. 7,800 which in turn were returned to X?
Note- igst@12% apply
Pass The Journal Entry

Answer 1

Answer:

i)Purchases A/c       Dr     20000

IGST A/c              Dr          2400

       To X A/c                                22400

ii)Y A/c    Dr     28400

     To Sales A/c       26000

     To CGST A/c         1200

      To SGST A/c         1200

iii)Sales return A/c   Dr    7800

       To Y A/c                           7800

iv)X  A/c    Dr   7800

    To Purchases A/c    7800

Explanation: