Question

Pass entries in the books of Mr. Roopani of Gujarat assuming CGST @9% and SGST@9%.

(i)	Purchased goods for ₹ 2,00,000 from Suryakant of Jaipur (Rajasthan) on Credit.
(ii)	Sold goods for ₹ 1,50,000 to Mr. Pawar of Mumbai (Maharashtra) and the cheque received was sent to bank.
(iii)	Sold goods for ₹ 2,50,000 within the state on credit.
(iv)	Paid insurance premium of 20,000 by cheque.
(v)	Purchased furniture for office for ₹ 60,000 by cheque.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
(i)	Purchases A/c	Dr.		2,00,000
	Input IGST A/c			36,000
	To Suryakant’s A/c				2,36,000
	(Purchased goods on credit)
(ii)	Bank A/c	Dr.		1,77,000
	To Sales A/c				1,50,000
	To Output IGST A/c				27,000
	(Sold goods and received cheque)
(iii)	Debtors A/c	Dr.		2,95,000
	To Sales A/c				2,50,000
	To Output CGST A/c				22,500
	To Output SGST A/c				22,500
	(Goods sold on credit)
(iv)	Insurance Premium A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				23,600
	(Paid for insurance premium)
(v)	Office Furniture A/c	Dr.		60,000
	Input CGST A/c	Dr.		5,400
	Input SGST A/c	Dr.		5,400
	To Bank A/c				70,800
	(Purchased office furniture)
(vi)	Output IGST A/c	Dr.		27,000
	To Input IGST A/c				27,000
	(Input Tax credit up to Rs.27,000 availed and balance to be adjusted against Output CGST)
(vii)	Output CGST A/c	Dr.		22,500
	To Input CGST A/c				7,200
	To Input IGST A/c				9,000
	To Bank A/c				6,300
	(Input tax credit availed and balance paid)
(viii)	Output SGST A/c	Dr.		22,500
	To Input SGST A/c				7,200
	To Bank A/c				15,300
	(Input tax credit availed and balance paid)
Total				8,74,400	8,74,400

Working Note:
GST Common Set Off Procedure:

	Output IGST (₹)	Output CGST (₹)	Output SGST (₹)
	27000	22500	22500
Input IGST	–27,000 (36000-9000)	–9000	–
Input CGST	–	–7,200 (1800 + 5400)	–
Input SGST	–	–	–7,200 (1800 + 5400)
Payable	Nil	6,300	15,300