Question

sold goods for cash,including cgst and sgst @ 6% each for4,48,000

Answer 1

Bank A/C -Dr. 448000
To Sales A/C 394240
To Output CGST 26880
To O/P SGST 26880
(Being goods sold for cash)

Calculate 6% on both cgst sgst seperately and on original price
Cgst:448000*6/100 26880 +
Sgst:448000*6/100 26880
53760
Then 448000-53760=394240

Answer 2

Question:

Sold goods for cash,including cgst and sgst @ 6% each for 4,48,000. Show journal entry.

Answer:

         In the books of Journal entry

particulars               amount       amount

Bank A/C -Dr.          448000

         To Sales A/C                     394240

         To Output CGST               26880

         To O/P SGST                     26880

( Being goods sold for cash with 6% cgst and sgst each )

workings:-

6% on both cgst sgst seperately and on original price

Cgst: 448000*6% = 26880

Sgst:448000*6% = 26880

                               53760

Then ( 448000-53760 ) = 394240