Scribd
Upload
130 views3 pages

Inter-State Purchase Accounting Example

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
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
130 views3 pages

Inter-State Purchase Accounting Example

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
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

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

You might also like