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Good evening sir
Sir yeh gst ka jo rule hai ki 1% gst ka tax pay karna hai hoga cash me toh sir iske journal entries kaise pass hogi tally me aur please sir explain with example.
Replies (3)
Are you composition dealer ?.
Regular dealer
For example you have input 200 but liablity is 100 then you have 1% of 100 rs so 1 rs paid in cash. journal entry is
gst payble A/c Dr 100
to input A/c 99
to cash A/c 1
gst payble A/c Dr 100
to input A/c 99
to cash A/c 1
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