Question

Purchased machinery of rs 80,000 @ 12% GST and amount paid by cheque. Do the entry of this sentence

Answer 1

Explanation:

cash a/c.....Dr- 70400

To machinery a/c- 70400

[ being machinery purchase]

Answer 2

Answer:

machinery a/c dr 80,000

input IGST a/c dr 9,600

to bank a/c 89,600

( being machinery purchased including IGST)