capital good entry tally under gst

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i purchase car i want made entry tally account how it please teach me
Replies (4)
car Dr
GST Dr
To. bank

1)    Car                          A/c          Dr 

       Input  CGST            A/c          Dr 

       Input SGST             A/c          Dr 

       To  Sundry  Creditors     A/c                Cr 

(Booking  entry  for purchase  of  CAR  , Invoice no ,date  )  Car under  Non current  fixed asset  in balance sheet 

 

2)  when  you  pay  through  bank 

     Sundry   Creditors    A/c         Dr  

      To Bank                   A/c          Cr 

(being  payment made Ch.no date  ) 

 

Dr Car

Cr Bank/Party

 

Since ITC not available on car therefore full amount needs to be capitalised

Supplier  will issue  Tax Invoice  (Gst ) for  purchase  car  , for same  we have  pass  entry  in the books of  accounts as above  . input credit  is not available  under  section 17 (5)  of the CGST act . 


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