what is CGST and SGST. give its accounting treatment in case of sale and purchase of goods with in same state
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. Set Off of Input Credit Against Out Tax Liability of GST
Input Credit CGST Payable - Rs. 50000 SGST Payable - Rs. 50000
SGST Input Credit - Rs. 30000
IGST Input Credit Rs. 20000 -
Electronic Cash Ledger - Rs. 20000
Total Rs. 50000 Rs. 50000
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