GST

Input GST= Tax paid on Purchase

Output GST= Tax Charge at the time of Sale.

Gst Payabale = Output Gst - Input Gst

GSTIN = Goods and service Tax identification Number (15 Digit Ka

hota hai)

C GST= Central Goods and service Tax

S GST= State Goods and service Tax

I GST = Integrated Goods and service Tax

Regular Dealer = Ye dealer every Months apna Sale Ka details Gst ke

website pr upload karega.

Composition Dealer = Ye dealer ko every three months ka sale ka details

dena hota hai. Inka total Turnover(sales) 1.5cr {yearly} se kam
hona chahiye.

Unregistered Dealer = In Dealer Ko koi bhi Return nahi dena hota. Inka
yearly turnover 20 lac se kam hona chaiye.

GSTR1= Is return me hamara total Sales ka details ata hai.

GSTR2= Is return me hamara total Purchase ka details ata hai.

GSTR3 = Is return me GSTR1 or GSTR2 ke transaction ke hisab se Gov ko Tax

dena hota hai.

GSTR4 = Ye return Sirf Composition Dealer ko dena hota hai.

B2B = Business 2 Business { jb koi registered dealer kisi dusre registered dealer
ko goods bechta hai to use B2B bolenge}.

B2C = Business 2 customer

input tax credit (ITC) = Jo GST Ka Tax humne purchase kerte samay paid kiya tha
Uska Labh( Profit)

***********************
Q Goods Purchase from abc co 1,00,000 and Gst paid Rs 10,000.

Purchase A/c dr 1,00,000

Input Gst A/c dr 10,000
To Abc Co a/c 1,10,000
************************************
Q. Goods Sold to xyz co Rs 1,20,000 and Gst Received Rs 12,000 (1,20,000*10%)

Xyz co A/c dr 1,32,000

To Sales a/c 1,20,000
To Output Gst A/c 12,000