Scribd Logo
Upload

Welcome to Scribd!

  • Problem 1: GST Problems Within State

    Uploaded by

    aishwarya raikar
    12 views1 page
    Mr. Ramesh started a business called M/s Sairam Traders on July 1st with Rs. 300,000 in cash and a shop worth Rs. 30,00,000. He took a loan of Rs. 15,00,000 from HDFC Bank and purchased computers and laptops from Acer Computer Shop on credit. On August 2nd, he sold some of the inventory to Rucha on credit and received full payment. He also paid rent, salary, telephone bills, and input credit on GST to the government that month.

    Original Description:

    Gst

    Original Title

    GST Problem 1

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Mr. Ramesh started a business called M/s Sairam Traders on July 1st with Rs. 300,000 in cash and a shop worth Rs. 30,00,000. He took a loan of Rs. 15,00,000 from HDFC Bank and purchased computers and laptops from Acer Computer Shop on credit. On August 2nd, he sold some of the inventory to Rucha on credit and received full payment. He also paid rent, salary, telephone bills, and input credit on GST to the government that month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    12 views1 page

    Problem 1: GST Problems Within State

    Uploaded by

    aishwarya raikar
    Mr. Ramesh started a business called M/s Sairam Traders on July 1st with Rs. 300,000 in cash and a shop worth Rs. 30,00,000. He took a loan of Rs. 15,00,000 from HDFC Bank and purchased computers and laptops from Acer Computer Shop on credit. On August 2nd, he sold some of the inventory to Rucha on credit and received full payment. He also paid rent, salary, telephone bills, and input credit on GST to the government that month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    GST problems within state

    Problem 1
    1/7/17 Mr. Ramesh started business as M/s Sairam Traders and decided to deal with
    computer and accessories with cash of ₹ 300,000 and shop ₹ 30,00,000
    1/7/17 He took a loan from HDFC bank ₹ 15,00,000
    1/7/17 He purchased following items from Acer computer shop on credit
    Item Qty Rate GST
    Computer 10 Numbers 25000 18%
    Laptop 10 Numbers 20000

    1/8/17 He paid carriage inward ₹ 1000


    2/8/17 He paid salary of ₹ 5000 to workers
    2/8/17 He sold the following items to Rucha on credit
    Item Qty Rate GST
    Computer 8 Numbers 35000 18%
    Laptop 8 Numbers 30000

    2/8/17 He paid half of the amount to Acer computer shop for purchase made on 1/7/17
    2/8/17 He received full amount from Rucha for sales made on 2/8/17
    2/8/17 He paid Rent of godown ₹ 15000
    2/8/17 He paid telephone bill of ₹ 2000
    2/8/17 He received commission of ₹ 50,000
    2/8/17 Paid input credit on GST to Government

    You might also like