GST Set off Journal Entries

Rao Ratan Singh (Manager Accounts) (23 Points)

02 November 2022  

Dear All,

Here is my excel sheet which i downloaded from somewhere. and i feed data in it. I want to make journal entries as per this sheet to set off GST.

Please help.

Thanks and regards

RR Singh

NEW METHOD OF SET OFF OF INPUT TAX CREDIT W.E.F. 1ST FEB 2019
       
Developed by CA B S Sridhar   sridharca @ gmail.com
       
  IGST CGST SGST
       
Output Tax 0 101233.7 101233.7
       
ITC - For the month 45954.71 89359.32 89359.32
ITC - Brought forward      
Total ITC 45954.71 89359.32 89359.32
       
  IGST CGST SGST
Total Output Tax 0 101233.7 101233.7
Less :- ITC Set off 0 0 0
IGST 0 45954.71 0
CGST 0 55278.99 0
SGST 0 0 89359.32
       
Payable in Cash Ledger 0 0 11874.38
Carry Forward 0 34080.33 0