Question

WITH GOODS AND SERVICES TAX (GST)
11. Journalise the following in the books of Noor.
2020
April 1
Goods purchased from Nibha for 8,000 trade discount @ 10%
April 3 Above goods sold to Muskan at original price less 4% trade discount.
April 5 1/2th of the total goods returned by Muskan.
April 9 Goods received back from Muskan returned to Nibha
CGST and SGST is levied @ 6% each on intra-state sale and purchase.​

Answer 1

Answer:

april 1. Purchase A/c. dr..8000

To trade discount. 800

To nibha. 7200

apri 3. Muskan A/c. dr..8000

To trade discount. 320

To sales. 7680

april 5. sale return. dr.. 4000

To muskan. 4000

april 9. Nibha A/c. dr. 4000

To purchase return. 4000

Explanation:

itc will be available on purchase i.e 8000× 6% = 480

gst on sales will be same .. so there is nil gst payable

for sale and purchase return debit note and credit note shall be issued