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GST Exercise

1. The document lists 25 transactions involving purchases and sales of various goods with applicable GST rates of 5%, 12%, 18% and 28%. 2. The transactions include purchases of goods like ghee, sugar, wheat, gram from various suppliers and sales of goods like tea, butter, chairs to different customers. 3. The transactions also include returns of defective goods to suppliers and customers with debit/credit notes being issued.

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Shahnawaz Shaikh
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236 views2 pages

GST Exercise

1. The document lists 25 transactions involving purchases and sales of various goods with applicable GST rates of 5%, 12%, 18% and 28%. 2. The transactions include purchases of goods like ghee, sugar, wheat, gram from various suppliers and sales of goods like tea, butter, chairs to different customers. 3. The transactions also include returns of defective goods to suppliers and customers with debit/credit notes being issued.

Uploaded by

Shahnawaz Shaikh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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GST Rate Use as 5%, 12%,18%,28%

 Enter the following transactions in the purchases book.


1 Purchased from Rajendra Bros. Mahendrgarh (Invoice No. 324)
50 tins Ghee @ Rs. 500 per tin
100 bags sugar @ Rs. 900 per bag Less : 10% trade discount
2 Bought from Bhartat Stores, Madurai (Invoice No. 377)
20 bags Gram @ Rs. 300 per bag
10 bags Sugar @ Rs. 1000 per bag
15 bags wheat @ Rs. 400 per bag Less : 10%Trade Discount
3 Bought from Harish Kumar Chaudhary, Kotihar (Invoice No. 390)
10 bag sugar @ Rs. 1000 per bag
30 tins Ghee @ Rs. 400 per tin
4 Purchased from Suresh Gupta, Jaipur (Invoice No. 2680)
100 bags wheat @Rs. 400 per bag
50 bags Gram @ Rs. 450 per bag
200 bags sugar @ Rs. 900 per bag
5 Bought of Virendra Vig. Delhi (Invoice No.2015)
100 bags wheat @ Rs. 400 per bag
100 bags Gram @ Rs. 450 per bag
6 Surendra Gupta, Agra sold to us : (Invoice No. 2950)
100 bags sugar @ Rs. 900 per bag
7 Rajesh Kumar, Dehradun sold to us (Invoice No. 350)
200 bags wheat @ Rs. 460 per bag.
8 Sold to Gupta Brothers
90 Bags of Sugar @ Rs. 85 per bag
20 Quintals Rice @ Rs. 300 per quintal Less : 10% Trade Discount
9 Sold to Jugal Furniture House
80 Chairs of Rs. 10 each
10 Sold to M/s Kunal & Sons for cash
30 qtl. wheat @ Rs. 250 per qtl.
40 Tins Oil @ Rs. 150 per tin
11 Sold to M/s Chaman and Company
120 Bags of wheat @ Rs.90 per bag.
30 Tins oil @ Rs. 200 per tin
60 Bags of rice @ Rs. 150 per bag Less: Trade Discount = 15%.
12 Sold to Mohan vide invoice No. 325, 40 kg. Assam
Tea @ 66 per kg less trade discount of 5%.
10%. Freight and Packing charges were separately
charged in the invoice at Rs. 352.
13 Sold to Ramanand vide (Invoice No. 426), 5 chests of
Tea for Rs. 3960 less trade discount @ 10%
14 Sold to Krishna & Sons vide Cash Memo No. 845,
80 kg butter @ Rs. 200 per kg; less trade discount @ 25%
15 Sold to Shiv hare vide invoice No. 189,
30 packets of Darjeeling Tea @ Rs. 110 per packet less trade discount Rs. 220
16 Returned to Chanakya Co. (Debit Note No. 123)
5 Chairs @ Rs. 80 per chair
10 stools @ RS. 150 per stool
17 Returned to Goyanka Furniture Stores (Debit Note No. 178)
5 Elmira @ Rs. 100 per Elmira
8 Tables @ Rs. 70 per table
18 Returned to Ashok & Co. : (Debit Note No.199)
7 Stools @ Rs. 120 per stool
5 tables @ Rs. 100 per table
19 Sold on credit to Sethi & Co. (Invoice No. 515)
10 Electronics Iron @ Rs. 25
5 Electric Stoves @ Rs. 15
20 Purchased on credit from Hari & Sons : (Invoice No. 601)
25 Heaters @ Rs. 40
10 Water Heaters @Rs. 20
21 Purchased for cash from Mohan and Co.(Invoice No. 625)
10 Electric Kettles @ Rs. 30
22 Sold to Gopal Bros. on credit : (Invoice No. 648)
10 Heaters @ Rs. 50
5 Water Heaters @ Rs. 25
23 Returned to Hari & Sons : (Debit Note No.650)
5 Heaters, being defective
24 Purchased from Kohli & Co. (Invoice No. 712)
10 Toasters @ Rs. 20
10 Water Heaters @ Rs.30
25 Gopal Bros. returned one water heater as defective. (Credit Note No.425)

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