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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.

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Solution

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

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