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
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.


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
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.





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
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



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)

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
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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