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GST Calculation for Businesses

1. The document provides details of purchases and sales made by Swayam Education Pvt. Ltd. including purchase of items from local dealers with applicable GST rates and sale of items to other parties within and outside the state. 2. It lists purchase of items like antivirus software, monitors, laptops and mobiles from local dealers with applicable CGST, SGST and IGST amounts. It also provides details of sale of the same items to other parties within and outside the state along with applicable output GST amounts. 3. Based on the transactions, it calculates total input GST of Rs. 30,520 (IGST of Rs. 18,600, CGST of Rs. 5,960

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Kunika Bachhas
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90 views2 pages

GST Calculation for Businesses

1. The document provides details of purchases and sales made by Swayam Education Pvt. Ltd. including purchase of items from local dealers with applicable GST rates and sale of items to other parties within and outside the state. 2. It lists purchase of items like antivirus software, monitors, laptops and mobiles from local dealers with applicable CGST, SGST and IGST amounts. It also provides details of sale of the same items to other parties within and outside the state along with applicable output GST amounts. 3. Based on the transactions, it calculates total input GST of Rs. 30,520 (IGST of Rs. 18,600, CGST of Rs. 5,960

Uploaded by

Kunika Bachhas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Example 1 : The following Transaction has been done by the Swayam Education Pvt.

Ltd. Based on this transaction compute the GST payable to the Government.
1. Purchase from Raj Infotech-Local Dealer, 5 CDs of Antivirus Software @ Rs. 800
each, with Input GST rate @ 18%. i.e. Rs.. 720 - [ CGST (9%) Rs.360 and SGST (9%)
Rs.360 ]
2. Purchase from Microtek India Ltd.-Local Dealer , 10 Monitors @ Rs. 4000 each, with
Input GST @ 28% i.e. Rs.11,200 – [ CGST (14%) Rs.5600 and SGST (14%) Rs. 5600.
]
3. Purchase 2 ‘Hp-Laptop’ @ Rs. 45,000 with Input IGST @ 18% i.e. Rs. 16,200.
and
2 Mi-Note 4 Mobiles @ Rs. 10,000 each with Input IGST 12% i.e. Rs.2,400 – in Cash
from Outside State – West Bengal from Registered Dealer ( with GSTN –
22AAAAA0000A1Z5 ) .
4. Sale of 5 Antivirus Software CDs @ Rs.1500 to Rajib Roy & Sons with output GST
18% i.e. Rs. 1350 – [CGST (9%) Rs. 675 and SGST (9%) Rs.675 ]
5. Sale of 10 Monitors @ Rs.4500 , to H. Goenka Traders with Output GST @ 28% i.e.
Rs. 12600 – [ CGST (14%) Rs. 6300 and SGST (14%) Rs. 6300 ]
6. Sale of 2 ‘Hp-Laptop’ @ Rs 50,000 with Output GST @ 18% i.e. Rs.18,000 [ CGST
(9%) Rs.9,000 and SGST (9%) Rs.9,000 ] in Cash within State
7. 2 Mi-Note 4 Mobiles Outside State @ Rs. 15,000 each with Output IGST 12% i.e. Rs.
3600 in Cash to a Party in Outside State i.e. Andhra Pradesh.
Solutions :

For PURCHASE & PAYMENT : IGST CGST SGST


For Transaction 1 : GST paid to party on
assessable value of Rs.4,000 @ 18 % GST is 360 360
Rs. 720
For Transaction 2 : GST paid to Party on the
assessable Value of Rs. 40,000 @ 28% GST is 5600 5600
Rs. 11,200
For Transaction 3 : IGST paid on the
assessable Value of Rs. 90,000 @ 18% GST is
18600
Rs. 16,200 & Rs. 20,000 @ 12% GST is Rs.
2,400 [ 16200+2400]
Total of Input GST [ IGST, SGST & CGST] 18600 5960 5960
For SALES :
For Transaction 6 : GST received from Party
on assessable value of Rs. 7,500 @ 18% GST 675 675
Rs. 1350
For Transaction 7 : GST received from Party
on assessable value of Rs. 45,000 @ 28 % GST 6300 6300
Rs. 12600
For Transaction 8 : GST received on the
assessable Value of Rs. 1,00,000 @ 18% GST 9000 9000
is Rs. 18,000.
For Transaction 9 : IGST received on the
assessable Value of Rs. 30,000 @ 12% IGST is 3600
Rs.3600 for sale outside State.
Total Output GST [ IGST, SGST & CGST] 3600 15,975 15,975

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