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Journal entries tax issue

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Gagan Kaushik

96 Points Posted on 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

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Quick Summary

This discussion addresses a common accounting challenge: how to pass journal entries in Tally for Goods and Services Tax (GST). The user needs to record the tax they owe to the government (CGST + SGST) against the tax they can claim back as input tax credit. The provided solution demonstrates how to debit the output tax accounts and credit the input tax credit accounts to reflect the net tax position.

prasad Nilugal

GST Practitioner & Accounts

15146 Points Posted on 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 .