Question

What would be the journal entry for the month cash purchase 500,000 intrastate and credit purchase interstate 4500,000?
cgst =6% igst=12% and sgst =6%​

Answer 1

Answer:

1.

purchase a/c dr. 500000

input cgst a/c. dr. 30000

input sgst a/c. dr. 30000

to cash. 560000

2.

purchase a/c dr. 4500000

input igst a/c. dr. 540000

to creditors. 5040000