Question

Pass Journal entry for purchase of goods by Amrit, Delhi from Add Gel Pens, Delhi for ₹ 15,000 less Trade Discount 10% and Cash Discount 3%. CGST and SGST is levied @ 6% each. Assume payment is made at the time of purchase.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
	Purchases A/c	Dr.		13,500
	Input CGST A/c	Dr.		810
	Input SGST A/c	Dr.		810
	To Cash A/c				14,666
	To Discount Received A/c				454
	(Goods purchased and discount received)

Working Notes:

List Price	15,000
Less: Trade Discount @ 10%	1,500
Value of Goods	13,500
Add: CGST @ 6%	810
Add: SGST @ 6%	810
Invoice Value	15,120
Less: Cash Discount @ 3%	454
Amount Paid	14,666