APC class 11th all questions and answer solution chapter GST
Dear Student,
Since you have asked so many questions with various sub- parts, we are providing you with general journal entries passed for GST Paid and GST Collected.
Some journal entries are as follows:
1) Purchase ac Dr.
Input CSGT ac Dr.
Input CGST ac Dr.
To Vendors' ac/ Bank ac
{ goods purchased on credit or payment made by cheque}
[ This can be used in respect of the third question, first part]
2) Debtor ac( Devki nandan and Sons) Dr.
To sales ac
To Output CGST ac
To Output SGST ac
{ being sales made on credit}
[ This can be used in respect of the third question, second part]
Note: Whenever GST is paid ( like in purchase of goods or purchse of fixed assets or expenses incurred), we write Input GST.
Similarly, whenever GST is collected ( like in case of sale of goods or services), we write Output GSt.
CGST refers to the Central GST and SGST refers to the State GST.
The solutions to the first two parts of your question have been answered above.
For remaining queries, we request you to post them in separate threads to have rapid assistance from our experts. However, Since the questions are very similar to each other, you might be able to solve the rest problems in a similar manner.
Regards
Since you have asked so many questions with various sub- parts, we are providing you with general journal entries passed for GST Paid and GST Collected.
Some journal entries are as follows:
1) Purchase ac Dr.
Input CSGT ac Dr.
Input CGST ac Dr.
To Vendors' ac/ Bank ac
{ goods purchased on credit or payment made by cheque}
[ This can be used in respect of the third question, first part]
2) Debtor ac( Devki nandan and Sons) Dr.
To sales ac
To Output CGST ac
To Output SGST ac
{ being sales made on credit}
[ This can be used in respect of the third question, second part]
Note: Whenever GST is paid ( like in purchase of goods or purchse of fixed assets or expenses incurred), we write Input GST.
Similarly, whenever GST is collected ( like in case of sale of goods or services), we write Output GSt.
CGST refers to the Central GST and SGST refers to the State GST.
The solutions to the first two parts of your question have been answered above.
For remaining queries, we request you to post them in separate threads to have rapid assistance from our experts. However, Since the questions are very similar to each other, you might be able to solve the rest problems in a similar manner.
Regards