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Example 2: Inter-State (Outside The State)

The document describes an accounting transaction for the purchase of goods from outside the state. Goods worth Rs. 100,000 were purchased and attracted a CGST of 9% and SGST of 9% which total to an IGST of 18,000. The accounting entries show a debit to the Purchase Account of Rs. 100,000 and IGST Account of Rs. 18,000, and a credit to the Cash/Bank/Creditors Account of Rs. 118,000.

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46 views

Example 2: Inter-State (Outside The State)

The document describes an accounting transaction for the purchase of goods from outside the state. Goods worth Rs. 100,000 were purchased and attracted a CGST of 9% and SGST of 9% which total to an IGST of 18,000. The accounting entries show a debit to the Purchase Account of Rs. 100,000 and IGST Account of Rs. 18,000, and a credit to the Cash/Bank/Creditors Account of Rs. 118,000.

Uploaded by

pmcmbharat264
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Example 2: Inter-state (outside the State)

Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000


To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000


IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

Example 2: Inter-state (outside the State)


Purchased goods Rs. 1,00,000 (outside the state) CGST @9% and SGST@9% (CGST+SGST=IGST)

Purchase A/c ………………Dr. 1,00,000

IGST A/c ………….…………Dr. 18,000

To Cash/ Bank/ Creditors A/c ………………….. Cr. 1,18,000

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