Output CGST @ 1.50% and SGST @ 1.50% ₹ 13766.22 in each.Input CGST @ 1.50% SGST @ 1.50% is ₹11886.23 each& CGST @ 9% and SGST @ 9% is ₹ 500 each.This GST Taxes how to pass entries in GST Payable Ledger or GST Computation Ledger.
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Before pass the final entry In GST payable Alc , we should Adjest output and Input in GST Adjustment Alc
The Entry will be
output CGST Alc Dr
output SGST Alc Dr
To Input CGST Alc
To Input SGST Alc
To GST Adjustment Alc
(please mention all the classification of output and Input)
if the GST Adjustment shows a credit balance , which means GST payable and the figure should be transfer to GST payable Alc (which should be grouped under provisions or current liabilities)
lf the GST Adjustment Alc shows a debit balance , which means refundable
The Entry of transfering payable balance of GST Adjustment Alc To GST payable Alc is
GST Adjustment Alc Dr
To GST payable Alc
The remittance of GST Payable In Payment Voucher Under Single entry mode
so if we consider your Question
The entry will be
output CGST @ 1.50% Dr 13766.22.
output SGST @ 1.50% Dr 13766.22
To Input CGST @ I50% Il886.23
To InputSGST @ I50% Il886.23
To input CGST @ 9 % 500.00
To Input SGST @ 9% 500.00
To GST Adjustment Alc 2759.98
II. Entry
GST Adjustment Alc Dr 2759.98
To GST payable Alc. 2759.98
Ill Entry of Payment of GST Amount of Rs 2759.98
GST payable Alc Dr 2759.98
To Bank. 2759.98
(Payment Voucher Under Single Entry Mode )
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