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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.
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Quick Summary
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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