Accountancy Dk Goel 2019 for Class 11 Commerce Accountancy Chapter 4 - Accounting For Goods & Service Tax Gst

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Page No 10.26:

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 10	Sold goods for ₹ 8,00,000 to Munjal & Co.
March 15	Paid for advertisement ₹ 40,000 by cheque.
March 18	Purchased furniture for office use ₹ 50,000 and payment made by cheque.
March 25	Paid for printing and stationery ₹ 8,000.
March 31	Payment made of balance amount of GST.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 04	Purchases A/c	Dr.		5,00,000
	Input CGST A/c	Dr.		45,000
	Input SGST A/c	Dr.		45,000
	To Mehta Bros. A/c				5,90,000
	(Purchased from Mehta Bros.)

Mar 10	Munjal & Co. A/c	Dr.		9,44,000
	To Sales A/c				8,00,000
	To Output CGST A/c				72,000
	To Output SGST A/c				72,000
	(Sold goods to Munjal & Co.)

Mar 15	Advertisement A/c	Dr.		40,000
	Input CGST A/c	Dr.		3,600
	Input SGST A/c	Dr.		3,600
	To Bank A/c				47,200
	(Paid for advertisement)

Mar 18	Furniture A/c	Dr.		50,000
	Input CGST A/c	Dr.		4,500
	Input SGST A/c	Dr.		4,500
	To Bank A/c				59,000
	(Purchased office furniture)

Mar 25	Printing & Stationery A/c	Dr.		8,000
	Input CGST A/c	Dr.		720
	Input SGST A/c	Dr.		720
	To Cash A/c				9,440
	(Paid for printing and stationery)

Mar 31	Output CGST A/c	Dr.		53,820
	Output SGST A/c	Dr.		53,820
	To Input CGST A/c				53,820
	To Input SGST A/c				53,820
	(Input tax credit availed)

Mar 31	Output CGST A/c	Dr.		18,180
	Output SGST A./c	Dr.		18,180
	To Bank A/c				36,360
	(Balance tax paid to government)
				17,93,640	17,93,640

Page No 10.26:

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20	Goods withdrawn by Proprietor for personal use ₹ 10,000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.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 04	Purchases A/c	Dr.		5,00,000
	Input CGST A/c	Dr.		45,000
	Input SGST A/c	Dr.		45,000
	To Sunil Bros. A/c				5,90,000
	(Purchased from Sunil Bros.)

Mar 07	Sunil Bros. A/c	Dr.		23,600
	To Purchases Return A/c				20,000
	To Input CGST A/c				1,800
	To Input SGST A/c				1,800
	(Goods returned to Sunil Bros.)

Mar 10	Mehta& Co. A/c	Dr.		9,44,000
	To Sales A/c				8,00,000
	To Output CGST A/c				72,000
	To Output SGST A/c				72,000
	(Sold goods to Mehta& Co.)

Mar 12	Sales Return A/c	Dr.		30,000
	Output CGST A/c	Dr.		2,700
	Output SGST A/c	Dr.		2,700
	To Mehta & Co. A/c				35,400
	(Goods returned by Mehta & Co.)

Mar 20	Drawings A/c	Dr.		11,800
	To Purchases A/c				10,000
	To Input CGST A/c				900
	To Input SGST A/c				900
	(Goods withdrawn for personal use)

Mar 25	Free Samples A/c	Dr.		5,900
	To Purchases A/c				5,000
	To Input CGST A/c				450
	To Input SGST A/c				450
	(Goods distributed as free samples)

Mar 26	Advertisement A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				23,600
	(Paid for advertisement)

Mar 31	Output CGST A/c	Dr.		43,650
	Output SGST A/c	Dr.		43,650
	To Input CGST A/c				43,650
	To Input SGST A/c				43,650
	(Input tax credit availed)

Mar 31	Output CGST A/c	Dr.		25,650
	Output SGST A./c	Dr.		25,650
	To Bank A/c				51,300
	(Balance tax paid to government)
				17,72,900	17,72,900

Page No 10.27:

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%.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)

	Purchases A/c	Dr.		2,00,000
	Input CGST A/c	Dr.		12,000
	Input SGST A/c	Dr.		12,000
	To Cheque A/c				2,24,000
	(Purchased goods and paid by cheque)

	Devki Nandan & Sons A/c	Dr.		1,79,200
	To Sales A/c				1,60,000
	To Output CGST A/c				9,600
	To Output SGST A/c				9,600
	(Sold goods toDevki Nandan & Sons)

	Purchases A/c	Dr.		50,000
	Input CGST A/c	Dr.		3,000
	Input SGST A/c	Dr.		3,000
	To Creditor A/c				56,000
	(Purchased goods on credit)

	Printing & Stationery A/c	Dr.		4,000
	Input CGST A/c	Dr.		240
	Input SGST A/c	Dr.		240
	To Cash A/c				4,480
	(Paid for printing and stationery)

	Cash A/c	Dr.		5,600
	To Commission Received A/c				5,000
	To Output CGST A/c				300
	To Output SGST A/c				300
	(Interest received)

	Output CGST A/c	Dr.		9,900
	Output SGST A/c	Dr.		9,900
	To Input CGST A/c				9,900
	To Input SGST A/c				9,900
	(Input tax credit availed)

				4,89,080	4,89,080

Input CSGT (Balance) = Rs 5,340

Input SGST (Balance) = Rs 5,340

Page No 10.27:

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.

Answer:

Journal In the books of M/s Karthikeyan & Co.
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2019
June 10	Purchases A/c	Dr.		1,50,000
	Input CGST A/c	Dr.		13,500
	Output SGST A/c	Dr.		13,500
	To Bank A/c				1,71,000
	To Discount received A/c				6,000
	(purchases from Ravichandaran @25% T.D. & 4% cash discount)

June 25	Bank A/c	Dr.		3,48,000
	Discount Allowed A/c	Dr.		6,000
	To Sales A/c				3,00,000
	To Output CGST A/c				27,000
	To Output SGST A/c				27,000
	(goods sold to Ramalingam @20% T.D. & 2% cash discount)
	TOTAL			5,31,000	5,31,000

Working Note:
(1) Calculation of the amount paid on purchases

List price of goods purchased			2,00,000
Less:	trade discount @ 25%		(50,000)
			1,50,000
Add:	Input CGST @ 9%	13,500
	Output SGST @ 9%	13,500	27,000
			1,77,000
Less:	Cash discount @ 4%		(6,000)
	Amount payable		1,71,000

(2) Calculation of the amount received on sales

List price of goods sold			3,75,000
Less:	trade discount @ 20%		(75,000)
			3,00,000
Add:	Input CGST @ 9%	27,000
	Output SGST @ 9%	27,000	54,000
			3,54,000
Less:	Cash discount @ 2%		(6,000)
	Amount payable		3,48,000

Page No 10.27:

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.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)

	Purchases A/c	Dr.		3,60,000
	Input CGST A/c	Dr.		32,400
	Input SGST A/c	Dr.		32,400
	To Cash A/c				1,03,014
	To Nanak Bros. A/c				3,18,600
	To Discount Received A/c				3,186
	(Purchased goods)

	Kumar & Sons A/c	Dr.		75,520
	Bank A/c			1,07,616
	Discount Allowed A/c			5,664
	To Sales A/c				1,60,000
	To Output CGST A/c				14,400
	To Output SGST A/c				14,400
	(Sold goods)

	Bank A/c	Dr.		38,000
	Discount Allowed A/c	Dr.		2,000
	To Gopi Chand A/c				40,000
	(Received from Gopi Chand in full settlement)

	Rent A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				23,600
	(Paid for rent)

	Salaries A/c	Dr.		50,000
	To Bank A/c				50,000
	(Paid salaries)

	Advertisement A/c	Dr.		11,800
	To Purchases A/c	Dr.			10,000
	To Input CGST A/c	Dr.			900
	To Input SGST A/c				900
	(Goods distributed as free samples)

	Bad Debts A/c	Dr.		5,000
	To Chanderkant A/c				5,000
	(Debtor proved bad)

	Cash A/c	Dr.		15,000
	To Capital A/c				15,000
	(Invested money into business)
				7,59,000	7,59,000

Page No 10.28:

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.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
(i)	Purchases A/c	Dr.		2,00,000
	Input IGST A/c			36,000
	To Suryakant’s A/c				2,36,000
	(Purchased goods on credit)

(ii)	Bank A/c	Dr.		1,77,000
	To Sales A/c				1,50,000
	To Output IGST A/c				27,000
	(Sold goods and received cheque)

(iii)	Debtors A/c	Dr.		2,95,000
	To Sales A/c				2,50,000
	To Output CGST A/c				22,500
	To Output SGST A/c				22,500
	(Goods sold on credit)

(iv)	Insurance Premium A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				23,600
	(Paid for insurance premium)

(v)	Office Furniture A/c	Dr.		60,000
	Input CGST A/c	Dr.		5,400
	Input SGST A/c	Dr.		5,400
	To Bank A/c				70,800
	(Purchased office furniture)

(vi)	Output IGST A/c	Dr.		27,000
	To Input IGST A/c				27,000
	(Input Tax credit up to Rs.27,000 availed and balance to be adjusted against Output CGST)

(vii)	Output CGST A/c	Dr.		22,500
	To Input CGST A/c				7,200
	To Input IGST A/c				9,000
	To Bank A/c				6,300
	(Input tax credit availed and balance paid)

(viii)	Output SGST A/c	Dr.		22,500
	To Input SGST A/c				7,200
	To Bank A/c				15,300
	(Input tax credit availed and balance paid)
Total				8,74,400	8,74,400

Working Note:
GST Common Set Off Procedure:

	Output IGST (₹)	Output CGST (₹)	Output SGST (₹)
	27000	22500	22500
Input IGST	–27,000 (36000-9000)	–9000	–
Input CGST	–	–7,200 (1800 + 5400)	–
Input SGST	–	–	–7,200 (1800 + 5400)
Payable	Nil	6,300	15,300

Page No 10.28:

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 12	Sold goods costing ₹ 60,000 at 50% profit to Partap Sinha of Ranchi (Jharkhand).
March 14	Purchased goods for ₹ 70,000 from Ram Nath of Kanpur (U.P.) against cheque.
March 18	Sold goods at Varanasi (U.P.) Costing ₹ 2,25,000 at $33 \frac{1}{3} %$ profit less trade discount 10% against cheque which was deposited into bank.
March 20	Paid rent ₹ 25,000 by cheque.
March 31	Payment made of balance amount of GST.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
Mar 05	Purchases A/c	Dr.		2,50,000
	Input IGST A/c			30,000
	To Virender Yadav A/c				2,80,000
	(Purchased goods on credit)

Mar 12	Partap Sinha A/c	Dr.		1,00,800
	To Sales A/c				90,000
	To Output IGST A/c				10,800
	(Sold goods on credit)

Mar 14	Purchases A/c	Dr.		70,000
	Input CGST A/c	Dr.		4,200
	Input SGST A/c	Dr.		4,200
	To Bank A/c				78,400
	(Purchased goods against cheque)

Mar 18	Bank A/c	Dr.		3,02,400
	To Sales A/c				2,70,000
	To Output CGST A/c				16,200
	To Output SGST A/c				16,200
	(Sold goods against cheque)

Mar 20	Rent A/c	Dr.		25,000
	Input CGST A/c	Dr.		1,500
	Input SGST A/c	Dr.		1,500
	To Bank A/c				28,000
	(Paid rent by cheque)

Mar 31	Output IGST A/c	Dr.		10,800
	To Input IGST A/c				10,800
	(Input tax credit availed)

Mar 31	Output CGST A/c	Dr.		16,200
	To Input CGST A/c				5,700
	To Input IGST A/c				10,500
	(Input tax credit availed)

Mar 31	Output SGST A/c	Dr.		16,200
	To Input SGST A/c				5,700
	To Input IGST A/c				8,700
	To Bank A/c				1,800
				8,32,800	8,32,800

Page No 10.29:

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.

Answer:

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
	Purchases A/c	Dr.		1,00,000
	Input IGST A/c			18,000
	To Karunakaran A/c				1,18,000
	(Purchased goods on credit)

	Ganeshan A/c	Dr.		1,68,000
	To Sales A/c				1,50,000
	To Output CGST A/c				9,000
	To Output SGST A/c				9,000
	(Sold goods on credit)

	S. Nair A/c	Dr.		3,06,800
	To Sales A/c	Dr.			2,60,000
	To Output IGST A/c				46,800
	(Sold goods on credit)

	Machinery A/c	Dr.		80,000
	Input CGST A/c			7,200
	Input SGST A/c			7,200
	To Bank A/c				94,400
	(Purchased Motor bike against cheque)

	Rent A/c	Dr.		30,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				33,600
	(Paid rent by cheque)

	Purchases A/c	Dr.		2,00,000
	Input CGST A/c			12,000
	Input SGST A/c			12,000
	To Ram Mohan Rai A/c				2,24,000
	(Purchased goods on credit)

	Insurance Premium A/c	Dr.		10,000
	Input CGST A/c	Dr.		900
	Input SGST A/c	Dr.		900
	To Bank A/c				11,800
	(Paid insurance premium by cheque)

	Bank A/c	Dr.		23,600
	To Commission A/c				20,000
	To Output CGST A/c				1,800
	To Output SGST A/c				1,800
	(Received commission and deposited in bank)

	Output IGST A/c	Dr.		18,000
	To Input IGST A/c				18,000
	(Input tax credit availed)

	Output CGST A/c	Dr.		10,800
	Output SGST A/c	Dr.		10,800
	To Input CGST A/c				10,800
	To Input IGST A/c				10,800
	(Input tax credit availed)

	Output IGST A/c	Dr.		28,800
	To Input SGST A/c				11,100
	To Input IGST A/c				11,100
	To Bank A/c				6,600
				10,48,600	10,48,600

Page No 10.29:

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 10	Suresh Yadav sold goods to Ravi Chakravarti of West Bengal for ₹ 2,50,000.
March 14	Ravi Chakravarti sold goods costing ₹ 2,50,000 to Sanjay Diwedi of West Bengal at a profit of 40% on cost.

Answer:

(a)

Journal of Mahesh Chand, Bihar
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 01	Purchases A/c	Dr.		1,00,000
	Input IGST A/c			12,000
	To Sunil Soren				1,12,000
	(Purchased goods plus 12% IGST)
Mar 01	Deepak Patnaik	Dr.		1,68,000
	To Sales A/c				1,50,000
	To Output IGST A/c				18,000
	(Sold goods plus 12% IGST)
Total				2,80,000	2,80,000

(b)

Journal of Sunil Soren, Jharkhand
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 01	Mahesh Chand	Dr.		1,12,000
	To Sales A/c				1,00,000
	To Output IGST A/c				12,000
	(Sold goods plus 12% IGST)
Total				1,12,000	1,12,000

(c)

Journal of Deepak Patnaik, Odisha
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 01	Purchases A/c	Dr.		1,50,000
	Input IGST A/c			18,000
	To Mahesh Chand				1,68,000
	(Purchased goods plus 12% IGST)
Mar 05	Suresh Yadav	Dr.		2,01,600
	To Sales A/c				1,80,000
	To Output CGST A/c				10,800
	To Output SGST A/c				10,800
	(Sold goods plus 6% CGST and SGST each)
Total				3,69,600	3,69,600

(d)

Journal of Suresh Yadav, Odisha
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 05	Purchases A/c	Dr.		1,80,000
	Input CGST A/c			10,800
	Input SGST A/c			10,800
	To Deepak Patnaik				2,01,600
	(Purchased goods plus 12% IGST)
Mar 10	Ravi Chakravarti	Dr.		2,80,000
	To Sales A/c				2,50,000
	To Output IGST A/c				30,000
	(Sold goods plus 12% IGST)
Total				4,81,600	4,81,600

(e)

Journal of Ravi Chakravarti, West Bengal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 10	Purchases A/c	Dr.		2,50,000
	Input IGST A/c			30,000
	To Suresh Yadav				2,80,000
	(Purchased goods plus 12% IGST)

Mar 14	Sanjay Diwedi	Dr.		3,92,000
	To Sales A/c				3,50,000
	To Output CGST A/c				21,000
	To Output SGST A/c				21,000
	(Sold goods costing ₹. 2,50,000 at 40% Profit plus 6% CGST and SGST each)
Total				6,72,000	6,72,000

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