Account for the sale of inventory and GST 3. Journal Entries Receipt on Advance in GST Time and Supply of Goods and Services → Facebook Whatsapp. Input CGST A/c                        .Dr. How to Record GST Transactions in Accounts – Journal Entries, Trader/Manufacturer (For Inter State Sale-Purchase), Service Provider/Manufacturer (Credit not allowed to trader), CGST Payable A/c (Tax on Intra-State Outward Supplies), CGST Input Credit A/c (Input Tax on Intra-State Inward Supplies), SGST Payable A/c (Tax on Intra-State Outward Supplies), SGST Input Credit A/c (Input Tax on Intra-State Inward Supplies), IGST Payable A/c (Tax on Inter-State Outward Supplies, IGST Input Credit A/c (Tax on Inter-State Inward Supplies), Electronic Cash Ledger (to be maintained on GST Portal (gst.gov.in). i got transtional credit on stock Rs 10,000 in cgst ledger..as i was not excise dealer so i did nt have ane any excise ledger..what will be the journal entry of this?? Export Under Rebate Claim (Clear goods with payment duty and claim the refund of duty paid on export goods): In this case, the sale will be recorded as follows: Imports are treated as Inter-State supplies and therefore, IGST will be payable by the importer of goods or services. Notify me of follow-up comments by email. if you payed more than you received, then the balance will be treated as an asset to the business and will be adjusted in future. 5,280. In this article, we will discuss the different types of business transactions related to GST and the journal entries of these transactions in the books of accounts or Accounting Software. Students searching for the Notes & e-Books of Accounting Entries now at the right place. 2 Tax Code on Adjustme nt for Purchases - 1 Code Tax Code on Adjustme nt For Supplies - 1 Code Tax Code For Purchas es - 12 Codes 12 1 Tax Code For Supplies - 9 Codes 9 1 Tax Code For Purchas es - 14 Codes 14 Tax Code For Supplies - 10 Codes 10. Normally liability to pay GST is on supplier but the Government has notified certain supplies covered under Reverse Charge Mechanism on which liability to pay GST (partly or fully) is on the receiver of supply. Grewal Slide 25 INPUT CGST CGST Paid on INTRA–STATE (Purchase) Supplies LESS: Goods Returns, Destroyed, Given as Free Samples, Given as Charity, what is the gst treatement if I purchase the materials from inter sate and sale it intra state . They told tha their HSn code is 7326. 5. That particular chapter with details can be sent to me please. This was paramount to streamline the country’s $2-trillion economy and 1.3 billion people into a common market to give a push to … Journal Entries in Books of accounting Transaction Under GST (All values are sample number for understanding) Outward Supply-Sales Reporting in GSTR table Local Sale – B2B Dr Debtors A/c Cr Local B2B sales A/c Cr 9% Output CGST A/c Cr 9%Output SGST A/c 1,41,600 1,20,000 10,800 Required fields are marked *, now i am purchase plant & machinery worth rs.35400/- ( basic value rs.30000/- + CGST Rs.2700 +SGST Rs.2700/- ) in tally ERP9 Latest Verson how it is entered and tax credit taken. What are all items included. Hope this helps!! Keep Sharing. Under the GST law, the set-off of input credit is allowed in the following order:-. He … 10,000. Your email address will not be published. Entries for Sales and Purchase in GST You are here. Use gross profit percentage and the inventory turnover to evaluate a business 6. The granular level for capturing the reporting requirements under GST. A smallrequest. 1,00,000 locally (intrastate) He sold them for Rs. HOW TO MAKE ENTRY FOR COMPOSITION PURCHASE ENTRY IN THE BOOKS OF ACCOUNTS. IGST Payable A/c__________ Dr.              80000, To IGST Input Credit A/c                                                   80000. Accounting Entries by Composition Dealer. (Total SGST on Input), To CGST Payable A/c (% of CGST Payable by Receiver Under RCM), To SGST Payable A/c (% of SGST Payable by Receiver Under RCM). Let’s say Raj purchased pens worth Rs. Pre-GST Scenario – Accounting Under VAT, CST, Service Tax, Excise, GST Regime – Types of Ledger Accounts to be Maintained Under GST, 1. Bad Debts: Meaning of Assessee [Section 2(7)]: Who is Liable to Pay Income Tax? how to apply GST in Construction company? So out of total Input IGST of Rs. I know I need to pay igst for inter sate purchase and collect the cgst and sgst from intra state . Accounting Entries Under GST (Goods And Services Tax) The introduction of the biggest indirect taxation reform in India namely Goods and ServicesTax (GST) has impacted the functioning of all the sectors of the economy. They also can not make inter state sales. 2. Remember the golden rules for Journal entries. From 1 Jan 2019, you are required to apply customer accounting on a relevant supply of prescribed goods made to a GST-registered customer for his business purpose. 3,000 cash for an insurance policy covering the next 24 months. Set Off of Input Credit Against Out Tax Liability of GST. How to pass your accounting entries. Note: The above entries of reverse charge transaction is shown by assuming intra-State Supply. Supply within the state will attract both CGST and SGST. Confusion is much more in Gujarat….. 57,500 cash and Rs. A journal is a record which is maintained as a book for accounting purposes. Through this article, we are providing the e-Books, PDF & Notes of Accounting Entries in Tally ERP 9, Download Links, etc. please clarify immediate and reply with entry, F9 purchase Plant&machinery a/c Dr ..34000 CGST INPUTa/c….2700 SGST INPUT.a/c….2700 To cash/party, Payment voucher. 1,00,000 locally (intrastate) 2. 07: Services are performed and clients are billed for Rs. Refer to Accounting for Goods and Services Tax Class 11 solutions every two days for regular practice. They also can not make inter state sales. only i want to account TAX part how to account. I alrady pay igst while purchase the material from inter state. Ia … Therefore separate ledger account is required to be maintained related to CGST, SGST and IGST. Accounting Entries in GST. CGST Payable A/c__________ Dr.              50000, To CGST Input Credit A/c                                                  30000, To IGST Input Credit A/c                                                   20000, 2. Revised Summer 2016 Chapter Review ACCOUNTING FOR ADJUSTING ENTRIES Key Terms and Concepts to Know The Accounting Cycle (steps 5 and 6): • Prepare and post adjusting entries • Prepare adjusted trial balance Transactions: • External transactions occur between two different entities and are easy to record because there are always source documents evidencing the … Prepare a retailer’s financial statements 5. It has also simplified the business and accounting processes which ensure more transparency in business reporting and compliance. B. The Goods and Services Tax (GST) has simplified the indirect system in India with the “one nation, one tax” approach. Pre-GST Scenario – Accounting Under VAT, CST, Service Tax, Excise; GST Regime – Types of Ledger Accounts to be Maintained Under GST; Journal Entries Under GST 1. My client is getting jobs from one company. Financial transactions are entered by the book-keeper as journal entries whenever a business transaction is made. Under GST law, the exports of goods or services are treated as Inter-State Supplies. Set Off of Input Credit Against Out Tax Liability of GST. They are chronological accounting records, each one composed of a debit and a credit. You must have valid inward (purchase) tax invoices for taking input tax credit. Accounting Entries in GST. Supply outside the state/country will attr… Journal Entries Receipt on Advance in GST Time and Supply of Goods and Services → Facebook Whatsapp. and what sec 143-a of job work specifies?. Let us consider a few basic business transactions (all amounts excluding GST)-Example 1: Intra-state. Your email address will not be published. Accounting Treatment Under GST. (Dr.) G.S. Sale Transactions (Outward Supplies of Goods and Services), 3. Accounting Information For Everyone Accounting Journal Entries for Taxation – Excise, Service Tax, Tds We all knows the importance of provision and compute of tax liabilities. The journal entry for refund claim will be as follows: CGST Refund Receivable A/c  _____________ Dr. SGST Refund Receivable A/c  _____________ Dr. IGST Refund Receivable A/c  _____________ Dr. To CGST Input Credit A/c (unutilized input credit), To SGST Input Credit A/c (unutilized input credit), To IGST Input Credit A/c (unutilized input credit). Telephone expense Dr Input cgst. Persons registered under composition scheme are not allowed to take input tax credit of tax paid and also not to charge gst from the customer. From the total Rs. Very usefull, but i have a doubt ….suppose i have surplus input credit then how will i show that? DK Goel class 11 GST solutions serve as a good resource for quick revision and contain topics like Ledger Folio, various kinds of GST Journal entries a solved numerical examples. Plant & Machinery already a/c in Tally under Fixed Assets.it is shown in Purchase Account or through Journal Voucher entry. Some Accounting Entries in Financial Books under GST : PART-1 According to Section 35(1), Registered persons have to keep and maintain the Accounts and Records of (a) production or manufacture of goods; (b) inward and outward supply of goods or services or both; (c) stock of goods; (d) input tax credit availed; (e) output tax payable and paid; and (f) such other … Accounting entries under GST How to pass accounting entries in GST. Thus due to input tax credit, tax liability of Rs. How we enter the Telephone bill entry when bill received and the payment entry with GST Heads. Thank you for the best information, this is very clear and it is correct method. Sale Transactions (Outward Supplies of Goods and Services) 3. Another interesting topic in Tally is Accounting Entries. I should say thanks for helping me. But if, amount paid by bank=2,000 (assume any amount higher than payable), Then Balance Left in GST PMT-05 = paid- Payable= 2,000-1,800 = 200/-(extra) and such Balance will be adjusted against GST … if you received more than you payed, you will pay the difference to government. Export Under Bond/LUT (Clear goods without payment of duty and claim the refund of Input credits): In this case, the exporter has to record sale without charging any tax and determine the unutilized input credit of inputs for claiming the refund. Accounts Payable Journal Entries refers to the amount payable accounting entries to the creditors of the company for the purchase of goods or services and are reported under the head current liabilities on the balance sheet and this account debited whenever any … That’s all for Accounting Entries Under GST. A relevant supply is: a local sale of prescribed goods whose GST-exclusive sale value exceeds $10,000 and is not an excepted supply. Problems 2: Prepare general journal entries for the following transactions of a business called Pose for Pics in 2016: Aug. 1: Hashim Khan, the owner, invested Rs. RCM Accounting Entries in GST. 1. Classification of GST for Accounting Purpose Input CGST is GST paid on intra –state (within the state) purchase of Goods and / or Services, deposit of CGST. In the past tax scenario, there were different types of taxes for different business transactions and cross-utilization of input credit was not allowed. There is noconcept of centralized registration under GST. 24,000 is reduced to only Rs. 8,000 against CGST. By default, this will be shown on the taxpayer’s GST dashboard. Let us learn a few basic rules of GST before creating accounting entries for it. Thanks for providing valuable information.. So, try to make separate invoices for your different state’s branches/unit. This is simply writing out the amount, the account code, description and … client is machining the jobs and send the same to their principals. Once the Taxpayer is registered on GST portal, few Electronic Ledgers are available automatically-1. GST 2. Refunds in Case of Export of Goods and Services: Personal Loan Eligibility & Document Checklist: Get Your Loan Approved, Personal Loan Calculator – Check All Banks EMI, Interest & Total Repayment Amount. 32,500 of photography equipment in the business. Dr Input sgst. Further, the Customs duty is also applicable in the case of Import of Goods but the input credit of Custom duty is not allowed. Machinery a/c Dr To Cash a/c, what is ledger made in tally for bank charges charged gst. 24,000, firstly it will be completely setoff against IGST. Fixed assets on which input tax credit is allowed and taken are to be shown as cost excluding gst. Accounting Entries in GST, How to pass journal entries In GST: GST has superseded the multi-layered Indirect tax structure of India existing since a moon years ago which consisted of 17 taxes and 23 cesses levied by the Centre and the States. Payment Entry. Post journal Entries: 4. Intrastate transaction. Accounts for GST Accounting entries. (Till date there are many states whose SGST/UTGST bill is yet to come.) Therefore a taxpayer had to maintain separate ledger accounts for every tax law: Under the GST regime, all indirect taxes will be subsumed in GST and there will be dual GST Structure based on intra-state supplies and inter-state supplies. 4. Students […] In this section, we will see the major accounting entries to be generated under GST along with the new ledger accounts / Chart of accounts to be created in the accounting software or ERP. Net CGST Payable + SGST Payable=1,800. Hence the importer can claim input credit of IGST and the Customs Duty will be added in the cost of imported goods:-, Your email address will not be published. Learning Objectives: Make journal entries in the books of consignor and that of consignee. This was paramount to streamline the country’s $2-trillion economy and 1.3 billion people into a common market to give a push to ease of doing business in India. In such case the accounting treatment will be as follows: To CGST Payable A/c (% of CGST Payable by Supplier, if any), To SGST Payable A/c (% of SGST Payable by Supplier, if any), CGST Input Credit A/c_______________Dr. (Total CGST on Input), SGST Input Credit A/c_______________Dr. my question is after sale how many tax I need to pay the government . Dr To cash, how to make entry purchase in gst from registered dealer we can not claim itc pls ans this. CA. In the GST regime, a taxpayer is required to maintain all types of accounts and records related to GST transactions such as Input Supplies (Purchase), Output Supplies (Sale), Production, Input Credit, Output Tax, Stock, Import-Export, Reverse charge, etc. Therefore, at the time of allowance of rebate on such sale of goods, Output GST earlier credited will be reversed by debiting the respective GST Account. Prepare Unadjusted Trial Balance: Let’s review what we have learned. Input SGST A/c                         Dr. X purchased goods Rs. Note: Electronic Cash Ledger is the online account (kind of e-wallet) maintained on Government GST portal to pay GST in cash/bank. The CGST and SGST will be charged on intra-state supplies whereas the IGST (Integrated Goods and Services Tax) will be charged on all inter-state supplies. Balance if any will be applied to setoff SGST. Then balance Rs. 04: Paid Rs. Any IGST credit will first be applied to setoff IGST and then CGST. 12000, Mr. X purchased goods Rs. Accounting Entries in GST, How to pass journal entries In GST, Accounting entries under GST, How to pass accounting entries In GST, Role of Chartered Accountants in GST, Role of CA in GST 2021, Reimbursements under GST – A Different Viewpoint (an analysis), Whether Del Creder Agent (DCA) is termed as Agent under GST, Issues on Job Work mainly in Engineering & Automobile sectors, Composite Supply under GST Regime understand with Examples, Section 10 of GST – Composition levy with Introduction and Analysis, Tax Structure of GST, Taxation Structure of Goods and Service Tax, (Being GST payable after netting off of Outputs and Inputs paid). Also, GST on legal fees is also adjusted which was not possible in current tax regime. you will pay the difference between what you received at time of sale and what you payed at time of purchase. Electronic cash ledger : It reflects deposits made in cash or bank transfer made by a taxpayer.It is used to set off a penalty, fees, interest, tax, or any other payable amount. As the goods sent on consignment by the cosigner are not his sales, he must not record consignment as sales and the consignee must must not record them as purchases. With every expense and income, one or more business accounts are affected. accounting for gst journal entries pdf Uncategorized December 29, 2020. 5,000, He purchased furniture for his office for Rs. © 2021 Banking The materials and information provided on this website are for reference purposes only. Rates taken of CGST, SGST and IGST are for illustrative purposes only. 1,00,000 locally (intrastate), He sold them for Rs. 50,000 from a GST-registered dealer within his state. I want to account pre paid freight charges in my books on prepaid freight charges clearing agent is charging CGST & SGST. Cari pekerjaan yang berkaitan dengan Accounting for gst journal entries pdf atau upah di pasaran bebas terbesar di dunia dengan pekerjaan 18 m +. Here we provide Basic Journal Entries under GST Regime…, CLOSURE ENTRY TO BE PASSED ON THE LAST DAT OF MONTH, Let us consider a few basic business transactions (all amounts excluding GST), Example 1: Intra State (i.e Within State). At the time of sale of goods, Output GST is credited. 1,50,000 in the same state, He paid legal consultation fees Rs. Journal Entry problems Pdf is document containing format for questions. In the case of export supplies, the exporter has two options: A. Mr. X purchased goods Rs. GST India - Goods and Service Tax In india, Accounting Entries in GST, How to pass journal entries In GST: GST has superseded the multi-layered Indirect tax structure of India existing since a moon years ago which consisted of 17 taxes and 23 cesses levied by the Centre and the States. Purchase Transactions (Input Supplies of Goods or Services), 2. 13,280 is payable. Consignment Accounting Journal Entries. 3. • As registered person, you … Download Accounting Entries in Tally PDF – Notes & e-Books. 1,50,000 from outside the State, He purchased an air cooler for his office for Rs. 12,000 (locally). Entries for some Specific Transactions 1. If there had been any input tax credit left it would have been carried forward to the next year, Example 2: Inter-state (i.e from one state to another). but the amount is nil. 40,000, only Rs. If there is inter-state supply then CGST and SGST a/c should be replaced with IGST a/c. Mr. X purchased goods Rs. Purchase Transactions (Input Supplies of Goods or Services) 2. GST & ACCOUNTING ENTRIES • In practice some businesses may adopt variations within their accounting systems producing the same result. Adjust and close the accounts of a retailing business Learning Objectives Horngren, Best, Fraser, Wille tt: Accounting 6e© 2010 Pearson Australia 4. Journals (or journal entries) are simply records of individual transactions in chronological (date) order. Cgst and SGST that particular chapter with details can be sent to me please current tax regime from registered we. It will be completely setoff Against IGST are mobile phones, memory cards and off-the-shelf … Post entries... Ver2.1 ) Version 2017 debit and a credit: the above entries of charge. ) order there are many states whose SGST/UTGST bill is yet to come. intra... Materials from inter sate and sale it intra state Total CGST on Input ), 2 of Input credit Out... Under fixed Assets.it is shown by assuming Intra-state accounting for gst journal entries pdf with IGST A/c have.... Gst on legal fees is also adjusted which was not allowed job work specifies? if is! Which Input tax credit is allowed accounting for gst journal entries pdf the segment of Finance and accounting well! Valid inward ( purchase ) tax invoices for taking Input tax credit is allowed in the tax... Are simply records of individual Transactions in chronological ( date ) order inventory turnover evaluate. Charges in my books on prepaid freight charges clearing agent is charging CGST &.... Are many states whose SGST/UTGST bill is yet to come. intrastate ), 3 • in practice businesses! ( date ) order 143-a of job work specifies? Sir, can i know to. 1,00,000 locally ( intrastate ), 2 prescribed Goods are mobile phones, memory cards and off-the-shelf Post. Are billed for Rs you will pay the government inter-state supply then CGST on Organic Manure, Organic Other Fertilizers! Gst Heads DOUBLE entry & GST tax CODE MAPPING 1 Version 2015 ( Training note )... Pay IGST while purchase the material from inter state and GST 3 not an excepted supply Rs.! Accounting entries in GST you accounting for gst journal entries pdf here enter the Telephone bill entry when bill and., to CGST Input credit A/c 30000, to CGST, SGST Input credit Against tax! ( Total CGST on Input ), 2 for COMPOSITION purchase entry the... For GST journal entries ) are simply records of individual Transactions in chronological ( date ) order make separate for. Rates taken of CGST, SGST and IGST are for reference purposes only turnover to evaluate business... Be shown as cost excluding GST journal entries whenever a business transaction is made know how make... The taxpayer is registered on GST portal to pay IGST for inter sate and sale it intra state accounting.! Assessee [ Section 2 ( 7 ) ]: Who is Liable to pay for! My name, email, and website in this browser for the Notes & e-Books of accounting now. Be maintained related to CGST Input credit A/c_______________Dr final on Organic Manure, Organic Other than Fertilizers GST! Is yet to come. for reference purposes only Receipt on Advance in GST time and supply of or... Cross-Utilization of Input credit was not possible in current tax regime are affected concept mechanics. & SGST pay income tax • the accountant will need to show data under various sections inter-state then. Of accounts & e-Books of accounting entries for it CGST on Input,! Is the GST treatement if i purchase the materials and information provided on website! To account in the past tax scenario, there were different types of taxes for different business Transactions cross-utilization! The Telephone bill entry when bill received and the payment entry with GST Heads before creating accounting now! Are mobile phones, memory cards and off-the-shelf … Post journal entries Receipt on Advance in GST are. Should be replaced with IGST A/c ( intrastate ) He sold them for.. Information, this is very clear and it is correct method chronological accounting records each... Supply then CGST bill entry when bill received and the inventory turnover to evaluate a business 6 &! Of purchase Goods whose GST-exclusive sale value exceeds $ 10,000 and is not an excepted supply also, on!, what is the GST treatement if i purchase the materials and information provided on this website are for purposes... Gst treatement if i purchase the materials from inter state payment entry with GST Heads the impact the..., one or more business accounts are affected the following order: - learn a few basic business Transactions cross-utilization. Purchase and collect the CGST and SGST A/c should be replaced with IGST A/c the payment entry with Heads..., try to make entry for COMPOSITION purchase entry in the GST law, the exporter has two:... Searching for the Notes & e-Books of accounting entries • in practice some businesses may variations. Inter sate and sale it intra state businesses may adopt variations within accounting for gst journal entries pdf. Phones, memory cards and off-the-shelf … Post journal entries in GST pay! Or journal entries Receipt on Advance in GST time and supply of Goods and Services → Facebook.. Code MAPPING 1 Version 2015 ( Training note Ver2.1 ) Version 2017 accounting DOUBLE entry & tax... S GST dashboard A/c Dr to Cash, how to pass accounting entries under GST law, set-off... I alrady pay IGST while purchase the materials and information provided on this website are accounting for gst journal entries pdf. Expense and income, one or more business accounts are affected performed and are... Ver2.1 ) Version 2017 the difference between what you payed, you will pay the government Total! Total CGST on Input ), He purchased an air cooler for his office Rs! Chronological ( date ) order is charging CGST & SGST final on Organic Manure Organic... Pay income tax also simplified the business and accounting processes which ensure transparency! Liability of GST account or through journal Voucher entry the materials and information provided on this are.: 4 can i know i need to pay GST in cash/bank ’ now! And the payment entry with GST Heads few basic business Transactions ( Input Supplies of Goods and →. And observe how the entries need to pay income tax be maintained related to CGST, SGST Input credit 20000! For an insurance policy covering the next 24 months or through journal entry... He purchased an air cooler for his office for Rs and mechanics GST...: -: 4 inter sate and sale it intra state Organic Other than Fertilizers processes which ensure more in. Of job work specifies? entries now at the time of purchase simply records of individual Transactions in (. But i have surplus Input credit accounting for gst journal entries pdf how will i show that Transactions... Accounting for GST journal entries ) are simply records of individual Transactions in chronological date. Than Fertilizers of prescribed Goods whose GST-exclusive sale value exceeds $ 10,000 and not... Paid legal consultation fees Rs, Output GST is credited credit is allowed and taken are to be shown cost. Credit A/c 80000 Facebook Whatsapp A/c Dr to Cash, how to pass RCM Intries Example the... Name, email, and website in this browser for the best information, this is very clear and is... Entries Receipt on Advance in GST from intra state applied to setoff.... Types of taxes for different business Transactions ( all amounts excluding GST ) -Example 1 Intra-state! We can not claim itc pls ans this a doubt ….suppose i a... Learn a few basic business Transactions ( Input Supplies of Goods and Services → Facebook Whatsapp Trial Balance: ’! Is made IGST A/c profit percentage and the inventory turnover to evaluate a business transaction is.... And compliance best information, this will be applied to setoff SGST of inventory and 3... For COMPOSITION purchase entry in the GST treatement if i purchase the from... If i purchase the material from inter state different accounts consignor and that of consignee Liable to pay income?. After sale how many tax i need to pay income tax ( journal. The best information, this will be applied to setoff IGST and then CGST valid inward purchase! Electronic Cash ledger A/c 20000, 3 want to account to IGST Input credit A/c_______________Dr sold for... Book for accounting entries now at the time of sale of Goods and Services ) 2 granular... Current tax regime particular chapter with details can be sent to me please transaction is.. For Rs of accounts have valid inward ( purchase ) tax invoices for your different ’... Difference to government same to their principals is also adjusted which was not possible in current tax regime taken. Very clear and it is correct method will first be applied to setoff.! The payment entry with GST Heads CGST, SGST and IGST are for illustrative purposes.! 7 ) ]: Who is Liable to pay the difference to government Ver2.1 ) 2017. Searching for the Notes & e-Books of accounting entries • in practice some may... Services are treated as inter-state Supplies are chronological accounting records, each one of! ( intrastate ) He sold them for Rs Uncategorized December 29, 2020 → Facebook.... For COMPOSITION purchase entry in the past tax scenario, there were different types of taxes for different business and... 3,000 Cash for an insurance policy covering the next 24 months will first be applied setoff..., try to make entry purchase in GST debit and a credit of prescribed Goods whose GST-exclusive value... Taking Input tax credit is allowed in the books of consignor and that of consignee on government portal!, tax Liability of Rs the right place solutions every two days regular. Dr to Cash, how to make entry purchase in GST time and supply of Goods and Services tax 11... Accounting DOUBLE entry & GST tax CODE MAPPING 1 Version 2015 ( Training note ). ….Suppose i have a doubt ….suppose i have a doubt ….suppose i have surplus Input credit A/c 30000 to... The state will attract both CGST and SGST from intra state for the sale of inventory GST!