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accounting in gst

kaushal laturiya (article ) (259 Points)

17 September 2017

how to do accounting(for purchase and sales) for a client who opt for composition scheme and doing kirana business.

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19 Replies

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 17 September 2017

Just you can book it full invoice value for the purchase and Full bill of supply value as Sales....

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

what about bifurcation of input gst and hsn code if demand in return form ?

Rahul Sharma (-) (28 Points)
Replied 17 September 2017

since you have opted for composition scheme so you are not eligible for ITC and hence there is no question of bifurcation

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 17 September 2017

Yes. I fully agreed to You Mr.... (I don't know Hindi. So, can't mention your name. Sorry Bro/Sis)

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

Thanks , but I check online forms it demand tax rate , cgst and sgst details

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

Thanks , but I check online forms it demand tax rate , cgst and sgst details

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

Thanks , but I check online forms it demand tax rate , cgst and sgst details

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

Thanks , but I check online forms it demand tax rate , cgst and sgst details

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 17 September 2017

Which form you check Composition..?
Actually what is your exact requirement...?

kaushal laturiya (article ) (259 Points)
Replied 17 September 2017

I check dorm gstr 4 for composition scheme. my requirements is how to maintain account for purchase and sale. juat pass accounting entry or maintain product wise details.
by purchase 100
by cgst 6
by sgst 6
to party 112

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 17 September 2017

Yes. Your purchase entry is correct. You can follow the way then you can get your exact goods value and Tax value.
But, Composition dealer can't get ITC. So, You can create JV and transfer the tax value to items value...

Also you can prepare Sales as
To Sales A/c - XXXX
By Party A/c - XXXX. Don't be show Taxes values by Composition Scheme....