Sub-Division of Journal : Special Purpose Subsidiary books — Practice Quiz
ICSE · Class 11 · Accountancy
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A list price of goods is ₹10,000 and trade discount is 20%. GST is 12% and the transaction is within the state. What is the amount payable?
A credit purchase of goods is made from another state. The list price is ₹30,000 and trade discount is 10%. GST is 12%. What is the IGST amount?
A supplier’s invoice shows goods worth ₹34,000 with trade discount 10%. GST is 12% and the purchase is within the state. What is the total amount payable?
In a purchases return entry, goods returned are worth ₹10,000 and trade discount is 10%. GST is 10% and the transaction is within the state. What is the total amount recorded in the purchases return book?
Sample Questions
A customer returns goods worth ₹30,000 from an inter-state sale. GST is 12%. What is the Output IGST amount to be credited?
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₹3,600
For an outside-state sale return, IGST is the full GST rate. IGST = 12% of ₹30,000 = ₹3,600. This amount is credited to Output IGST Account in the sales return process.
A credit sale within the state shows list price ₹14,200 and trade discount 10%. GST is 5%. What is the total amount entered in the sales book?
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₹13,419
Net amount = ₹14,200 − 10% of ₹14,200 = ₹12,780. GST at 5% on ₹12,780 = ₹639. Since the sale is within the state, this splits into Output CGST ₹319.50 and Output SGST ₹319.50. Total = ₹12,780 + ₹319.50 + ₹319.50 = ₹13,419.
A credit purchase from another state shows net amount ₹30,600 and GST rate 12%. What is the total amount payable including IGST?
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₹34,272
For an outside-state transaction, IGST equals the full GST rate. IGST = 12% of ₹30,600 = ₹3,672. Total amount payable = ₹30,600 + ₹3,672 = ₹34,272.
A goods return to a supplier is valued at ₹4,000 and the transaction is within the state with GST 10%. What is the amount of each of CGST and SGST?
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₹200 each
Within the state, CGST and SGST are equal parts of GST. GST 10% means 5% CGST and 5% SGST. 5% of ₹4,000 = ₹200. So each part is ₹200.
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