Brought furniture for 500000 lakhs(excluding GST) from mr ABC ltd on credit .GST Rate 12%. take input credit.
please send me journal entry for this.. question.
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journal entry
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furniture. Dr. 500000
GST Dr. 60000
To. ABC LTD. 560000
ABC LTD. xxxxxx
To Bank. xxxxxx
GST Dr. 60000
To. ABC LTD. 560000
ABC LTD. xxxxxx
To Bank. xxxxxx
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