GST ENTRIES FOR EVERY MONTH

SALES

Debtors A/c ..Dr

To Sales A/c Cr.
To CGST Output A/c Cr.
To SGST Output A/c Cr.
To IGST Output A/c Cr.

PURCHASES

Purchases A/c ..Dr

CGST Input A/c ..Dr
SGST Input A/c ..Dr
IGST Input A/c ..Dr
To Creditors A/c Cr.

EXPENSES (Other Than RCM)

Expenses A/c ..Dr

CGST Input A/c ..Dr
SGST Input A/c ..Dr
IGST Input A/c ..Dr
To Bank A/c Cr.

RCM

Expenses A/c ..Dr

RCM CGST Input A/c ..Dr
RCM SGST Input A/c ..Dr
RCM IGST Input A/c ..Dr
To Bank A/c Cr.
To RCM CGST Payable A/c Cr.
To RCM SGST Payable A/c Cr.
To RCM IGST Payable A/c Cr.

CLOSURE ENTRY TO BE PASSED ON THE LAST DAT OF MONTH

i)
CGST Output A/c ..Dr
SGST Output A/c ..Dr
IGST Output A/c ..Dr
To CGST Payable A/c Cr.
To SGST Payable A/c Cr.
To IGST Payable A/c Cr.
(Being Output collected during the month transferred to Respective payable A/c)
Note: After this entry, All GST output A/c Balance will become NIL
ii)
CGST Payable A/c ..Dr
SGST Payable A/c ..Dr
IGST Payable A/c ..Dr
To CGST Input A/c Cr.
To SGST Input A/c Cr.
To IGST Input A/c Cr.

(Being input created out of purchases and expenses during the month transferred
to Respective payable A/c)
Note: After this entry, All GST input A/c Balance will become NIL

iii)
CGST Payable A/c ..Dr
SGST Payable A/c ..Dr
IGST Payable A/c ..Dr
To RCM CGST Input A/c Cr.
To RCM SGST Input A/c Cr.
To RCM IGST Input A/c Cr.

(Being balance lying in RCM Input A/c for the month transferred to Respective
payable A/c)
Note: After this entry, All RCM input A/c Balance will become NIL

iv)
RCM CGST Payable A/c ..Dr
RCM SGST Payable A/c ..Dr
RCM IGST Payable A/c ..Dr
To Bank Cr.

(Being GST payable on RCM Basis paid in Cash)

v)
CGST Payable A/c
SGST Payable A/c
IGST Payable A/c
To Bank Cr.

(Being GST payable after netting off of Outputs and Inputs paid)

Prepared By: Ashwani Dhanuka

7873350239