With Goods and Services Tax GST nalise the following transactions of Singh Enterprises- Delhi-CGST and SGST - 6 - each is levied on Intra-state sale and purchase-

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Finding CGST and SGST

With Goods an...

Question

With Goods and Services Tax (GST)
Journalise the following transactions of Singh Enterprises, Delhi:

2017
June 1
June 2
June 3
June 4
June 11
June 13
June 17
June 20
June 27
June 30
Started business with cash
Deposited cheque from Savings Account in firm's account
Received cash from Ram
Purchased goods for cash
Sold goods to M/s. Hari Sales, Delhi
Paid to Ramavtar
Received from M/s. Hari Sales
Bought furniture from S.R. Furnishers against Cash (including CGST and SGST)
Paid rent
Paid salary ₹
50,000
2,00,000
50,000
15,000
12,000
40,000
10,000
22,400
28,000
50,000

CGST and SGST @ 6% each is levied on Intra-state sale and purchase.

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2019		₹
April 1	Suresh paid into bank as Capital*	60,000
April 2	He bought goods and paid by cheque	24,000
April 3	Sold goods to Mukand & Co., Delhi	6,700
April 4	Sold goods for cash	10,900
April 5	Paid sundry expenses in cash*	3,000
April 8	Paid for office furniture and fittings by cheque	4,000
April 9	Bought goods from Ramesh & Bros., Faridabad (Haryana)	10,600
April 11	Returned goods to Ramesh & Bros.	1,500
April 12	Issued cheque to Ramesh & Bros. in full settlement*	9,500
April 30	Bank charged interest*	200
April 30	Borrowed from Ridhi @ 10% per annum interest*	50,000
April 30	Received from Mahendra on account*	6,000
April 30	Sold household furniture and paid the amount into business*	2,000
April 30	Sold goods costing ₹ 5,000 to Anita for cash at a profit of 20% on cost, less 20% trade discount
April 30	Sold goods costing ₹ 20,000 to Sunil at a profit of 20% on sale less 20% Trade Discount and paid cartage ₹ 150 (to be charged from customer).

2019		₹
Jan. 1	Started business with cash	50,000
Jan. 2	Opened a Current Account by personal cheque	3,50,000
Jan. 10	Purchased machinery against cheque	1,00,000
Jan. 15	Paid wages for installation of machinery	2,000
Jan. 20	Purchased timber from Singh & Co., Ludhiana (Punjab) of the list price of ₹ 20,000 at 10% trade discount
Jan. 25	Out of the above, timber used for furnishing the office	5,000
Jan. 31	Sold timber to Rakesh of the list price of ₹ 10,000 and allowed him 10% trade discount
Feb. 10	Issued to Singh & Co. a cheque in full settlement	20,000
Feb. 15	Received from Rakesh in full and final settlement	10,000
Feb. 20	Paid Wages	15,000
Feb. 28	Issued a cheque for ₹ 5,000 in favour of the landlord for rent of February

2018		₹
Jan. 1	Started business with cash	50,000
Jan. 2	Opened a Current Account by personal cheque	3,50,000
Jan. 10	Purchased machinery against cheque	1,00,000
Jan. 15	Paid wages for installation of machinery	2,000
Jan. 20	Purchased timber from Singh & Co., Ludhiana (Punjab) of the list price of ₹ 20,000, allowed 10% trade discount
Jan. 25	Out of the above, timber used for furnishing the office	5,000
Jan. 31	Sold timber to Rakesh of the list price of ₹ 10,000 and allowed him 10% trade discount
Feb.10	Issued to Singh &Co. a cheque in full settlement	21,000
Feb. 15	Received from Rakesh in full and final settlement	10,220
Feb. 20	Paid Wages	15,000
Feb. 28	Issued a cheque for ₹ 5,000 in favour of the landlord for rent of February

2018		₹
April 1	Suresh paid into bank	60,000
April 2	He bought goods cheque	24,000
April 3	Sold to Mukand & Co.	6,700
April 4	Sold goods for cash	10,900
April 5	Paid sundry expenses in cash	3,000
April 8	Paid for office furniture and fittings by cheque	4,000
April 9	Bought goods from Ramesh & Bros., Faridabad (Haryana)	10,600
April 10	Sold to Mahendra of Delhi	18,700
April 11	Returned goods to Ramesh & Bros.	1,500
April 12	Issued cheque to Ramesh & Bros. in full settlement	9,000
April 14	Sold goods for cash	4,900
April 30	Bank charged interest	200
April 30	Borrowed from Ridhi @ 10% per annum interest	50,000
April 30	Received from Mahendra on account	6,000
April 30	Sold household furniture and paid the amount into business	2,000
April 30	Sold goods costing ₹ 5,000 to Anita for cash at a profit of 20% on cost less 20% trade discount.	6,500
April 30	Sold goods costing ₹ 20,000 to Sunil at a profit of 20% on sale less 20% Trade Discount and paid cartage ₹ 150 (to be charged from customer).

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Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2017
June 01	Cash A/c	Dr.		50,000
	To Capital A/c				50,000
	(Started business with cash)

June 02	Bank A/c	Dr.		2,00,000
	To Capital A/c				2,00,000
	(Cheque from Savings A/c to Firm’s A/c)

June 03	Cash A/c	Dr.		50,000
	To Ram’s A/c				50,000
	(Received cash)

June 04	Purchases A/c	Dr.		15,000
	Input CGST A/c	Dr.		900
	Input SGST A/c	Dr.		900
	To Cash A/c				16,800
	(Goods purchased)

June 11	M/s Hari A/c	Dr.		13,440
	To Sales A/c				12,000
	To Output CGST A/c				720
	To Output SGST A/c				720
	(Goods sold on credit)

June 13	Ramavtar’s A/c	Dr.		40,000
	To Cash A/c				40,000
	(Paid cash to Ramavtar)

June 17	Cash A/c	Dr.		10,000
	To M/s Hari A/c				10,000
	(Received cash from M/s Hari A/c)

June 20	Furniture A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,200
	Input SGST A/c	Dr.		1,200
	To Cash A/c				22,400
	(Bought furniture for cash)

June 27	Rent A/c	Dr.		28,000
	To Cash A/c				28,000
	(Paid rent)

June 30	Salary A/c	Dr.		50,000
	To Cash A/c				50,000
	(Paid salary)