CGST AND SGST
CGST AND SGST
Company Name: Kunal Electronic Store
Ledger Entries
Opening Amount Rs. 12,50,000
Cash At Bank Rs. 50,00,000
Loan Rec. a/c (10,00,000)
Bad Debts. (Amount Rs. 5,00,000)
Inventory Items
Voucher Entries
1. Sold goods (2 Refrigerator) with 28% GST
2. Purchase Goods (100 Mobile, 70 Television) on credit with 18% GST, From Philips Store.
3. Withdraw cash Rs. 7,00,000 from bank to office use.
4. Sold goods on credit (2 Mobile) to Mr. Krishna with 18% GST
5. Receive Bad debts Amt. Rs. 2,00,000 by cheque
6. Sold goods on credit (2 Refrigerator)s to Umesh General Store with 28% GST
7. Sold goods (4 Mobile, 2 Television) with 18% GST
8. Sold goods (50 Pen drive) with 2% discount
9. Paid interest rate 3% on Loan amount
10. Paid 4,50,000 to Philips store by cheque
GST + DISCOUNT
Company name: Krishana General Store
Ledger Entries
Opening Amount Rs. 10,00,000
Cash At Bank Rs. 20,00,000
Furniture A/c (Amount Rs. 45,000)
IGST (INTEGRATED GST)
Ledger Entries
Opening Amount Rs. 12,50,000
Cash At Bank Rs. 50,00,000
Loan Rec. a/c (10,00,000)
Bad Debts. (Amount Rs. 5,00,000)
Inventory Items
Item name
|
Company name
|
Quantity
|
Price
|
Sales Price
|
GST
|
Pen drive
|
HP
|
200
|
450
|
550
|
12%
|
Mobile
|
Samsung
|
150
|
12,000
|
12,750
|
18%
|
Television
|
Philips
|
100
|
15,000
|
16,000
|
18%
|
Refrigerator
|
Whirlpool
|
120
|
23500
|
25,000
|
28%
|
Voucher Entries
1. Sold goods (2 Refrigerator) with 28% GST
2. Purchase Goods (100 Mobile, 70 Television) on credit with 18% GST, From Philips Store.
3. Withdraw cash Rs. 7,00,000 from bank to office use.
4. Sold goods on credit (2 Mobile) to Mr. Krishna with 18% GST
5. Receive Bad debts Amt. Rs. 2,00,000 by cheque
6. Sold goods on credit (2 Refrigerator)s to Umesh General Store with 28% GST
7. Sold goods (4 Mobile, 2 Television) with 18% GST
8. Sold goods (50 Pen drive) with 2% discount
9. Paid interest rate 3% on Loan amount
10. Paid 4,50,000 to Philips store by cheque
GST + DISCOUNT
Company name: Krishana General Store
Ledger Entries
Opening Amount Rs. 10,00,000
Cash At Bank Rs. 20,00,000
Furniture A/c (Amount Rs. 45,000)
Item name
|
Brand/Company
|
Quantity
|
Units
|
Price
|
Sales Price
|
Washing powder
|
Tide
|
500
|
Pkt.
|
20
|
25
|
Bath Soap
|
Pears
|
250
|
PCs.
|
55
|
60
|
Toothpaste
|
Colgate
|
600
|
PCs.
|
80
|
85
|
Corn flakes
|
Kelloggs
|
450
|
Pkt.
|
60
|
65
|
Almond
|
Flax
|
400
|
Pkt.
|
350
|
365
|
Peanut butter
|
Sundrop
|
350
|
PCs.
|
250
|
270
|
Voucher Entries
1. Sold goods (10 Washing powder, 5 Bath soap) with 5% GST
2. Purchase goods (200 Bath soap) with 2% discount and 5% GST
3. Sold goods (70 Almond packets) with 2.5% discount 12% GST
4. Sold goods on credit (25 Peanut butter) To Subhash & Sons with 18% GST
5. Return defected sold goods (2 Peanut butter) with 18% GST.
6. Purchase goods on credit (200 Peanut butter) from Sundrop with 3% discount & 18% GST
7. Return defected purchased goods (5 Peanut butter to Sundrop with 3% discount & 18% GST
8. Received Amt. Rs. 20,000 from Subhash & Sons.
9. Purchase chairs for office use (Total Amount Rs. 50,000) paid 22,000 to Kunal furniture store.
10. Paid Amt. Rs. 50,000 to Sundrop by cheque.
11. Depreciation 5.5% on furniture.
12. Received remaining amount from Subash & Sons.
2. Purchase goods (200 Bath soap) with 2% discount and 5% GST
3. Sold goods (70 Almond packets) with 2.5% discount 12% GST
4. Sold goods on credit (25 Peanut butter) To Subhash & Sons with 18% GST
5. Return defected sold goods (2 Peanut butter) with 18% GST.
6. Purchase goods on credit (200 Peanut butter) from Sundrop with 3% discount & 18% GST
7. Return defected purchased goods (5 Peanut butter to Sundrop with 3% discount & 18% GST
8. Received Amt. Rs. 20,000 from Subhash & Sons.
9. Purchase chairs for office use (Total Amount Rs. 50,000) paid 22,000 to Kunal furniture store.
10. Paid Amt. Rs. 50,000 to Sundrop by cheque.
11. Depreciation 5.5% on furniture.
12. Received remaining amount from Subash & Sons.
IGST (INTEGRATED GST)
Company Name: Mohan & Sons Pvt. Ltd.
Ledger Entries
Opening Amount Rs. 40,00,000
Cash At Bank Rs. 2,00,00,000
Furniture A/c (Amount Rs. 60,000)
Inventory Items
Voucher Entries
1. Sold goods (2 Washing machine) with 28% IGST
2. Purchase Goods (200 LED Bulb) 12% GST.
3. Return defected purchased goods (10 LED Bulb) 12% GST
4. Withdraw cash Rs. 7,00,000 from bank to office use.
5. Sold goods on credit (1 Washing machine, 5 LEDs) To Mr. Sumit with 28% IGST
6. Return defected sold goods (1 LED) with 28% IGST.
7. Depreciation 4.5% on furniture.
8. Sold goods on credit(75 LED bulb) to Mr. Vikram with 12% GST.
9. Sold goods for cash (1 Washing machine, 4 LEDs) with 28% GST.
10. Purchase goods (100 Bicycle) with 18% GST (Payment made by cheque)
11. Purchase goods by cash (1000 LED Bulb) with 12% IGST.
12. Return defected goods (10 LED Bulb) with 12% IGST.
13. Purchase goods on credit from RK Store (750 Bicycles) with 18% IGST.
14. Paid charity Amount Rs. 5,000 by cheque.
15. Paid Amount Rs. 2,00,000 by cheque.
MULTIPLE GST RATES
Company Name: LG Store
Ledger Entries
Opening Amount Rs. 25,00,000
Cash At Bank Rs. 60,00,000
Bad Debts A/c Rs. 4,00,000
Inventory Items
GST (SERVICE TAX)
Company Name: Amit Advertisement Agency
Ledger Entries
Opening Amount Rs. 30,00,000
Cash At Bank Rs. 75,00,000
Counting machine A/c (Amount Rs. 80,000)
Voucher Entries
1. Sold advertisement service (Local) Amt. Rs. 25,000 with 28% GST
2. Purchase Courier service (Local) Amt. Rs. 17,000 with 12% GST
3. Paid office rent 65,000 by cheque.
4. Withdraw cash Rs. 10,00,000 from bank to office use.
5. Sold advertisement service (InterState) Amt. Rs. 40,000 with 28% IGST
6. Purchase service (Transport service) from Amit Transporter (Amt. Rs. 40,000) with 18% IGST
7. Depreciation 7.5% on counting machine.
8. Purchase rail transport service Rs. 5,000 from Indian rail with 5% IGST
9. Purchase Courier service (InterState) from Blue Dart Couriers, Amount Rs. 4000 with 18% IGST
10. Purchase ceiling fan from Khetan fan (Total amount Rs. 7,000) Paid 3,000 by cheque.
GST (COMBINE QUESTION)
Ledger Entries
Opening Amount Rs. 40,00,000
Cash At Bank Rs. 2,00,00,000
Furniture A/c (Amount Rs. 60,000)
Inventory Items
Item name
|
Company name
|
Quantity
|
Price
|
Sales Price
|
IGST
|
Bicycle
|
Strom Ride
|
450
|
4,500
|
5,000
|
18%
|
Washing Machine
|
Samsung
|
200
|
22,000
|
22,500
|
28%
|
LEDs
|
Philips
|
300
|
15,000
|
16,500
|
28%
|
LED Bulb
|
Philips
|
500
|
100
|
110
|
12%
|
Voucher Entries
1. Sold goods (2 Washing machine) with 28% IGST
2. Purchase Goods (200 LED Bulb) 12% GST.
3. Return defected purchased goods (10 LED Bulb) 12% GST
4. Withdraw cash Rs. 7,00,000 from bank to office use.
5. Sold goods on credit (1 Washing machine, 5 LEDs) To Mr. Sumit with 28% IGST
6. Return defected sold goods (1 LED) with 28% IGST.
7. Depreciation 4.5% on furniture.
8. Sold goods on credit(75 LED bulb) to Mr. Vikram with 12% GST.
9. Sold goods for cash (1 Washing machine, 4 LEDs) with 28% GST.
10. Purchase goods (100 Bicycle) with 18% GST (Payment made by cheque)
11. Purchase goods by cash (1000 LED Bulb) with 12% IGST.
12. Return defected goods (10 LED Bulb) with 12% IGST.
13. Purchase goods on credit from RK Store (750 Bicycles) with 18% IGST.
14. Paid charity Amount Rs. 5,000 by cheque.
15. Paid Amount Rs. 2,00,000 by cheque.
Ledger Entries
Opening Amount Rs. 25,00,000
Cash At Bank Rs. 60,00,000
Bad Debts A/c Rs. 4,00,000
Inventory Items
Item name
|
Company name
|
Quantity
|
Price
|
Sales Price
|
GST
|
Cell Phone
|
Samsung
|
350
|
4,500
|
5,000
|
18%
|
Washing Machine
|
LG
|
200
|
22,000
|
22,500
|
28%
|
DVD Player
|
LG
|
300
|
4,500
|
4800
|
28%
|
LED Tube
|
LG
|
500
|
120
|
150
|
12%
|
Voucher Entries
1. Sold goods (10 LED Tube, 4 DVD Player) with 12% & 28% GST
2. Purchase Goods (150 LED Tube, 100 DVD Players) with 12% IGST, 28% IGST.
3. Return defected goods (5 LED Tube) 12% IGST
4. Receive bad debts 25% of total amount by cheque
5. Sold goods on credit (5 Washing machine, 15 DVD Players) to Mr. Sumit with 28% IGST
6. Return defected sold goods (2 DVD Players) with 28% IGST
7. Paid employee welfare amount Rs. 75,000 by cheque
8. Sold for cash (2 Cell Phone, 10 LED Tube) with 18% IGST, 12 GST.
9. Purchase goods (100 Cell phone, LED Tube 200) with GST 18%, GST 28%, (Paid by cheque)
10. Receive remaining bad debts amount by cheque
11. Sold goods (50 Cellphone ,50 LED Tubes) with 18% & 12% GST
12. Return defected sold goods (2 Cellphone, 5 LED Tubes) with 18% & 12% GST
1. Sold goods (10 LED Tube, 4 DVD Player) with 12% & 28% GST
2. Purchase Goods (150 LED Tube, 100 DVD Players) with 12% IGST, 28% IGST.
3. Return defected goods (5 LED Tube) 12% IGST
4. Receive bad debts 25% of total amount by cheque
5. Sold goods on credit (5 Washing machine, 15 DVD Players) to Mr. Sumit with 28% IGST
6. Return defected sold goods (2 DVD Players) with 28% IGST
7. Paid employee welfare amount Rs. 75,000 by cheque
8. Sold for cash (2 Cell Phone, 10 LED Tube) with 18% IGST, 12 GST.
9. Purchase goods (100 Cell phone, LED Tube 200) with GST 18%, GST 28%, (Paid by cheque)
10. Receive remaining bad debts amount by cheque
11. Sold goods (50 Cellphone ,50 LED Tubes) with 18% & 12% GST
12. Return defected sold goods (2 Cellphone, 5 LED Tubes) with 18% & 12% GST
Ledger Entries
Opening Amount Rs. 30,00,000
Cash At Bank Rs. 75,00,000
Counting machine A/c (Amount Rs. 80,000)
Voucher Entries
1. Sold advertisement service (Local) Amt. Rs. 25,000 with 28% GST
2. Purchase Courier service (Local) Amt. Rs. 17,000 with 12% GST
3. Paid office rent 65,000 by cheque.
4. Withdraw cash Rs. 10,00,000 from bank to office use.
5. Sold advertisement service (InterState) Amt. Rs. 40,000 with 28% IGST
6. Purchase service (Transport service) from Amit Transporter (Amt. Rs. 40,000) with 18% IGST
7. Depreciation 7.5% on counting machine.
8. Purchase rail transport service Rs. 5,000 from Indian rail with 5% IGST
9. Purchase Courier service (InterState) from Blue Dart Couriers, Amount Rs. 4000 with 18% IGST
10. Purchase ceiling fan from Khetan fan (Total amount Rs. 7,000) Paid 3,000 by cheque.
GST (COMBINE QUESTION)
Company Name: Heritage IT Solution
Ledger Entries
Opening Amount Rs. 65,00,000
Cash At Bank Rs. 85,50,000
Sofa set A/c (Amount Rs. 1,25,000)
Inventory Items
Voucher Entries
1. Sold AMC Service (Local) Amount Rs. 27,500 with 28% GST.
2. Purchase Goods (400 Ink Cartage) with 12% IGST.
3. Purchase Courier service (InterState) Amt Rs. 20,000 From BLUE DART with 18% IGST.
4. Sold AMC service (InterState) Amount Rs. 35,000 with 28% IGST.
5. Depreciation 7.5% on Sofa Set.
6. Purchase goods on credit (150 Printer) From HP Store with 4% discount & 28% IGST.
7. Return defected purchased goods (4 Printer) with 4% discount & 28% IGST.
8. Sold goods (4 Laptop, 2 Printer) with 28% GST.
9. Purchase transport service (InterState) from AWX Transporter (Amt. Rs. 50,000) with 28% IGST
10. Sold goods on credit (20 Printer, 25 Ink Cartage) To Anupam IT Institute with GST 28% & 12%
11. Return defected sold goods (2 Printer)
12. Sold Repair Service on credit To Anupam IT Institute (Amt. Rs. 45,000) with GST 28%
13. Recieve cheque Rs. 65,000 from Anupam IT Institute.
14. Sold goods (20 Router, 15 Printer) with IGST 18% & 28%
15. Receiving remaining balance from Anupam IT Institute
Ledger Entries
Opening Amount Rs. 65,00,000
Cash At Bank Rs. 85,50,000
Sofa set A/c (Amount Rs. 1,25,000)
Inventory Items
Item name
|
Company name
|
Quantity
|
Price
|
Sales Price
|
GST
|
Router
|
Dlink
|
400
|
2,200
|
5,000
|
18%
|
Laptop
|
Sony
|
200
|
27,000
|
29,500
|
28%
|
Printer
| HP |
300
|
7,000
|
8,000
|
28%
|
Ink Cartage
|
HP
|
500
|
1,000
|
12,00
|
12%
|
Voucher Entries
1. Sold AMC Service (Local) Amount Rs. 27,500 with 28% GST.
2. Purchase Goods (400 Ink Cartage) with 12% IGST.
3. Purchase Courier service (InterState) Amt Rs. 20,000 From BLUE DART with 18% IGST.
4. Sold AMC service (InterState) Amount Rs. 35,000 with 28% IGST.
5. Depreciation 7.5% on Sofa Set.
6. Purchase goods on credit (150 Printer) From HP Store with 4% discount & 28% IGST.
7. Return defected purchased goods (4 Printer) with 4% discount & 28% IGST.
8. Sold goods (4 Laptop, 2 Printer) with 28% GST.
9. Purchase transport service (InterState) from AWX Transporter (Amt. Rs. 50,000) with 28% IGST
10. Sold goods on credit (20 Printer, 25 Ink Cartage) To Anupam IT Institute with GST 28% & 12%
11. Return defected sold goods (2 Printer)
12. Sold Repair Service on credit To Anupam IT Institute (Amt. Rs. 45,000) with GST 28%
13. Recieve cheque Rs. 65,000 from Anupam IT Institute.
14. Sold goods (20 Router, 15 Printer) with IGST 18% & 28%
15. Receiving remaining balance from Anupam IT Institute
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