Accounting For Goods & Service Tax Gst
WORKSHEET
Question 1:
Pass entries in the books of Mukerjee & Sons. assuming all transactions have taken
place within the state of Uttar Pradesh. Assume CGST @9% and SGST @ 9%.
2018
March 1 Purchased goods for ₹ 5,00,000 from Mehta Bros.
March Sold goods for ₹ 8,00,000 to Munjal & Co.
10
March Paid for advertisement ₹ 40,000 by cheque.
15
March Purchased furniture for office use ₹ 50,000 and payment made by
18 cheque.
March
Paid for printing and stationery ₹ 8,000.
25
March Payment made of balance amount of GST.
31
Question 2:
Pass entries in the books of Devdhar & Bros. Odisha, assuming all transactions have
been entered within the state, charging CGST and SGST @ 9% each:
2018
March 4 Purchased goods for ₹ 5,00,000 from Sunil Bros.
7 Goods returned to Sunil Bros. for ₹ 20,000
10 Sold goods to Mehta & Co. for ₹ 8,00,000
12 Goods returned by Mehta & Co. for ₹ 30,000
20 Goods withdrawn by Proprietor for personal use ₹ 10,000
25 Goods distributed as free samples ₹ 5,000
26 Paid advertisement expenses by cheque ₹ 20,000
31 Payment made of balance amount of GST.
Question 3:
Pass entries in the books of Ganguli & Sons. assuming all transactions have been
entered in the state of West Bengal:
(i) Purchased goods for ₹ 2,00,000 and payment made by cheque.
(ii) Sold goods for ₹ 1,60,000 to Devki Nandan & Sons.
(iii) Purchased goods for ₹ 50,000 on credit.
(iv) Paid for printing and stationery ₹ 4,000.
(v) Received for commission ₹ 5,000.
(vi) Output GST adjusted against Input GST.
Assume CGST @ 6% and SGST @ 6%.
Question 4:
Pass entries for the following transactions in the books of M/s Karthikeyan & Co. of
Chennai:
2019
June 10 Purchased goods from Ravichandran of Madurai of the list price of ₹
2,00,000 at 25% trade discount at 4% cash discount on purchase price of
goods. Paid CGST and SGST @ 9% each. Paid the entire amount by cheque
on the same date.
June 25 Sold goods to Ramalingam of Erode of the list price of ₹ 3,75,000 at 20%
trade discount and 2% cash discount on sale price. Charged CGST and SGST
@ 9% each. Full amount was received by cheque on the same date.
Ignore adjustment and payment of GST.
Question 5:
Record the following transactions in the books of Sahdev & Sons assuming all
transactions have been entered within the state of Bihar, Charging CGST and SGST @
9% each.
(i) Bought goods from Nanak Bros. for ₹ 4,00,000 at 10% trade
discount and 3% cash discount on purchase price. 25% of the
amount paid at the time of purchase.
(ii) Sold goods to Kumar & Sons. for ₹ 2,00,000 at 20% trade
discount and 5% cash discount on sale price. 60% of the
amount received by Cheque.
(iii) Received from Gopi Chand ₹ 38,000 by Cheque after
deducting 5% cash discount.
(iv) Paid ₹ 20,000 for rent by Cheque.
(v) Paid ₹ 50,000 for salaries by Cheque.
(vi) Goods worth ₹ 10,000 distributed as free samples.
(vii) ₹ 5,000 due from Chanderkant are bad-debts.
(viii) Sold household furniture for ₹ 15,000 and the proceeds were
invested into business.
Question 6:
Pass entries in the books of Mr. Roopani of Gujarat assuming CGST @ 9% and
SGST@ 9%.
(i) Purchased goods for ₹ 2,00,000 from Suryakant of Jaipur
(Rajasthan) on Credit.
(ii) Sold goods for ₹ 1,50,000 to Mr. Pawar of Mumbai
(Maharashtra) and the cheque received was sent to bank.
(iii) Sold goods for ₹ 2,50,000 within the state on credit.
(iv) Paid insurance premium of 20,000 by cheque.
(v) Purchased furniture for office for ₹ 60,000 by cheque.
(vi) Payment made of balance amount of GST.
Question 7:
Pass entries in the books of Sh. Jagdish Mishra of Lucknow (U.P.) assuming CGST @
6% and SGST @ 6%:
2018
March 5 Purchased goods for ₹ 2,50,000 from Virender Yadav of Patna
(Bihar).
March Sold goods costing ₹ 60,000 at 50% profit to Partap Sinha of
12 Ranchi (Jharkhand).
March Purchased goods for ₹ 70,000 from Ram Nath of Kanpur (U.P.)
14 against cheque.
March Sold goods at Varanasi (U.P.) Costing ₹ 2,25,000
18 at 3313%3313% profit less trade discount 10% against cheque
which was deposited into bank.
March
Paid rent ₹ 25,000 by cheque.
20
March Payment made of balance amount of GST.
31
Question 8:
Pass entries in the books of Krishnan of Bengaluru (Karnataka) in the following cases:
I Purchased goods from Karunakaran of Chennai for ₹ 1,00,000.
(IGST @18%)
II Sold goods to Ganeshan of Bengaluru for ₹ 1,50,000.
(CGST @ 6% and SGST @ 6%)
III Sold goods to S. Nair of Kerala for ₹ 2,60,000.
(IGST @18%)
IV Purchased a Machinery for ₹ 80,000 from Surya Ltd. against cheque.
(CGST @ 9% and SGST @ 9%)
V Paid rent ₹ 30,000 by cheque.
(CGST @ 6% and SGST @ 6%)
VI Purchased goods from Ram Mohan Rai of Bengaluru for ₹ 2,00,000.
(CGST @ 6% and SGST @ 6%)
VII Paid insurance premium ₹ 10,000 by cheque.
(CGST @ 9% and SGST @ 9%)
VIII Received commission ₹ 20,000 by cheque which is deposited into bank.
(CGST @ 9% and SGST @ 9%)
IX Payment made of balance amount of GST.
Question 9:
Pass entries in the books of all parties in the following cases assuming CGST @ 6% and
SGST @ 6%:
2018
March 1 Mahesh Chandra of Bihar purchased goods for ₹ 1,00,000 from
Sunil Soren of Jharkhand and sold the same to Deepak Patnaik of
Odisha for ₹ 1,50,000.
March 5 Deepak Patnaik sold goods to Suresh Yadav of Odisha for ₹
1,80,000.
March Suresh Yadav sold goods to Ravi Chakravarti of West Bengal for
10 ₹ 2,50,000.
March Ravi Chakravarti sold goods costing ₹ 2,50,000 to Sanjay Diwedi
14 of West Bengal at a profit of 40% on cost.
