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GST REFUND IN CASE EXPORT

gyanandra (Accountant) (39 Points)

27 June 2019

what is the journal and payment entry , if we get the refund from department agt the export of good and gst paid .

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Rizwan Chaudhari (2 Points)
Replied 30 June 2019

when you purchase the goods, you will pass an entry where Purchase A/c Dr. , Input GST A/c Dr., To Creditors A/c..

when you receive the refund you have to pass entry where Bank Dr., To GST Refund A/c..

and for this 2 Accounts you have to pass entry where, GST Refund A/c, To Input GST A/c..