In case of purchase of finished goods
Purchase A/C Dr
Input GST A/C
to creditors A/C
(Being purchase made )
In case of Sales of finished goods
Debtors A/C Dr
to sales A/C
to output GST
(Being sales made )
In case of professional fee
Professional fee A/C Dr
Input GST A/C Dr
to Party A/C
(Being professional fee due)
In case of purchase of Furniture and Fixture
Furniture and Fixture A/C Dr
Input GST A/C Dr
to Party A/C
(Being purchase made of Furniture and Fixture)
Note: Net GST payable =Output GST -Input GST
Entry will be –
Output GST A/C Dr
to Input GST A/C
to electronic cash ledger A/C
