Dear Sir / Madam
can any body help me...
1)Out put GST ( CGST & SGST ) @ 5% , 28 % ,18% ( When making sales inv Ledger Name in Tally )
2)In put GST (SGT & CGST) @ 14%,2.5%,6%,9%
3) IGST INPUT @12%,18%,28%,5%
1 )How pass a provision entry in Tally above Transaction
2) We had pad the GST above transactions ..how to make payment entry ( Dr...which Ledger..Cr ..Bank A /c)
3) If i do The provision Entry The above all transactions has to be nullified (JV)
For accounting in journal entry, create 3 more ledgers. SGST Payable, CGST Payable and IGST Payable.
In respective liability and asset ledgers whatever balance you have at month end transfer to these 3 ledgers. Once you make payment these ledgers will become nill and your respective ledgers will also become nill.
Normally the entry will be:
CGST 6% output Dr. - 1000
SGST @6% Output Dr. - 1000
CGST 9% Input Cr - 500
SGST 9% Input Cr - 500
SGST Payable Cr - 500
CGST Payable Cr - 500
When you make payment:
SGST Payable Dr. - 500
CGST Payable Dr. - 500
Bank A/c - Cr. 1000
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