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Journal entries tax issue

Gagan Kaushik (39 Points)

26 October 2021  
sir my question is

sir mujhe government ko itna tax pay karna hai

cgst + sgst = 490.04+490.04

aur itna tax lena hai government se

cgst + sgst = 6175.4 + 6175.4

sir mujhe iske journal entries pass krni hai tally me journal voucher hai sir mujhe
samjh nhi aa raha hai ki entries kaise pass karo??

please help me sir

 2 Replies

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7054 Points)
Replied 26 October 2021

Out put CGST A/c Dr 490.04
Out put SGST A/c Dr 490.04
To Input CGST A/c Cr 490.04
To Input SGST A/c Cr. 490.04
( Out put tax adjusted input tax credit no tax payable )

In electronic credit larger balance ITC will be
reflected after set-off .
1 Like

Sourav (Student) (23917 Points)
Replied 26 October 2021

Agree with above journal

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