watch_later 29/01/18


Please refer to the refered subject. From 1st December'17, I have opted for composition, prior to that I was registered in regular.

A) How to make bill enteries purchased from a registered dealer from December,17

2) How to issue sales invoices.


Bishnu Agarwal

1 Response | Latest response: 30/01/18 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 30/01/18

If you have opted for composition scheme, you cannot take input tax credit and GST charged in your purchase invoices needs to be treated as expense.

You can book entire purchase invoice as purchase cost (including GST).

Entry should be:

Purchase A/c Dr. 1000

Party A/c Cr.  1000

For sales you have to create Bill of Supply.

Entry will be:

Party A/c Dr. 1000

Sales A/c Cr. 1000

At the end of month you need to pass tax entry.

Tax payable A/c Cr - 10

SGST A/c Dr - 5

CGST A/c Dr. - 5

Your tax will be expense for you.



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