Hello everyone, welcome back again to another lecture.
More exciting entries of GST.
We are here with one more example.
We will move things forward.
We will start reading.
This example.
Pass entries in the books of Shri Chandaram of Kerala.
Chandaram is someone in Kerala.
You have to do general entries here.
What are the entries?
First listen.
CGST and SGST rates will be 9%.
Party is in Kerala.
Purchased goods for 6 lakhs from Chennai.
6 lakhs goods purchased from Chennai.
Purchased goods for 1 lakh from Kerala.
1 lakh goods purchased from Kerala.
Sold goods costing 160 to Naveen of Hyderabad.
At a profit of 25% on cost.
Less trade discount 10%.
Sold goods to Kokila.
Costing 5 lakhs at 60% profit.
Discount 15% against cheque.
Advertisement charges 16,000 paid in cash.
Purchased a computer for office use 60,000 by cheque.
Withdrew 20,000 for personal use.
These are the entries.
You have to cover these.
Let's start.
Purchased goods for 6 lakhs from Chennai.
Now I would like you to make an entry from me.
You only tell the entries.
This is my wish right now.
Tell the entries, tell the effect.
I will post it.
And in the end you will see if it is happening or not.
Okay sir, we will tell you.
We will tell you for sure.
I said promise.
He is saying yes sir, promise for sure.
Okay, don't break the promise.
We will not break sir, it is a sure thing.
I said okay, I trust you.
Sir, if someone else says I trust you so easily.
Our life will not improve.
Don't say that brother.
Don't say I trust you.
If you have asked, you have not met anyone.
Without asking, you get pearls.
Without asking, you don't get alms.
You must have heard the saying.
It applies to life completely.
Let's go.
Let's come to the pad.
Take this.
What did you buy?
Tell all the kids.
Keep this.
What did you buy?
Tell everyone quickly.
Tell everyone.
Sir, I bought things.
Okay, I will tell you what I bought in the things.
Tell the value of it quickly.
Open the notes with you.
There is a hard copy in the other place.
You have taken out the printout from there.
Otherwise, open the soft copy in the mobile in the other
place.
And keep watching from there once.
Okay.
Okay sir, no problem.
No problem, no problem.
Read it.
Where to buy goods worth 6 lakhs?
Chennai.
Chennai, Tamil Nadu.
Chennai is in Tamil Nadu.
That is another state.
Chennai, Tamil Nadu is another state.
So tell me, will there be a discussion of CGST, SDST or
IGST?
What does the public say?
Say friends, speaking will make the thing.
It happens when you speak, haven't you seen the ad?
Say it.
It will be about IGST because the transaction is interstate.
So whenever we will debit the purchase, tell me friends,
who is he married to right now?
Input, IGST.
Input, IGST's wife will come with him.
Oh my god.
Let's do the journal entry.
Write down the journal entry.
Number 1.
Will you create a company?
Yes, let's do it on the pad first.
We will create a company.
Let's write the entry on the pad.
What did you write?
Okay, sir.
Purchases, account debit.
How much is it? 6 lakhs.
6 lakhs.
Input, IGST.
Account debit.
What will be the 18% of 6 lakhs?
Sir, 1,08,000 rupees.
1,08,000 rupees.
2.
Whom are we buying from?
Let's see the name.
What name is written?
The name is not written.
Whom are we buying from?
Let's write the name from our side.
No, no.
He is in Chennai.
Where is he in Chennai?
Let's name him Anna.
Anna.
To Mr. Anna account.
Anna Sunil Chetty.
Right.
Mr. Anna account.
Total will be 7,08,000 rupees.
7,08,000 rupees.
Being.
Goods.
Purchased.
7,08,000 rupees.
Being goods purchased.
Where will the purchases go?
Now everyone has to speak.
Where will the purchases go?
Okay.
In final accounts.
In trading accounts, 2 purchases will be seen.
Do we have to go back 3-4 years?
In 11th.
Do we have to go?
I will talk to Stephen Hawking.
If it becomes a time travel machine.
Duties and taxes.
Input IGST.
Will it look negative or positive?
Negative.
Because the balance increases from the input to the
negative.
It increases from the output to the positive.
Input IGST will look positive in the account.
But I am not asking you how it will look in the input IGST
account.
I am asking how it will look in the balance sheet.
In this example, I will ask more than you.
I will reduce it myself.
Okay sir.
And 2 Mr. Anna.
What will be the effect of this?
7,08,000.
What will be the effect of this?
Oh wow.
This will be seen in the creditor account.
Where will it be seen?
Creditor.
It will be seen in the balance sheet.
In the current liability.
It will be seen in the current liability in the balance
sheet.
Okay sir.
Look, this is wrong.
Smart people.
This is your wrong.
This is a bad thing.
Please fix it.
If you do not answer.
What will happen to the rest of the people?
Three people have come.
All three are smart.
All their answers should be correct.
Sir, this time it will definitely be a full attempt.
I said okay.
He always forgives the first mistake.
Mr. Gopichand of Kerala.
Make it.
Gopichand.
Create a company.
Alt F3.
Climb up.
Create a company.
Four steps up.
Company name.
Vrindavan's Krishna Kanhaiya.
The star of everyone's eyes.
Gopichand.
Sector 28.
What to take in the state?
This time.
Kerala.
What to take?
Kerala.
Let's take the second state too.
Gopichand Traders.
Pin code.
You can put anything from your side.
Okay.
You can put a mobile number.
Sorry.
Email.
Gopi traders.
At the rate.
Gmail.
Dot com.
Website.
Download.
Control.
Press.
GST.
Enable.
GST.
Number.
Download.
GST.
Number.
GST.
Number.
GST.
Number.
GST number.
Till now the GST number which we were getting was of Haryana
So the initial digit used to be 06
But this time you don't have to keep 06
Ask why?
Because the code of Assam is something else
The code of Kerala is something else
What is it sir? 1818 1818 Every state has a code from GST
Ok Yes sir
And if you enter any invalid GST number
Then it will show you
The GST is invalid and contains special characters
There is some mistake in GST
In the number, it wants to say
Because we have changed the next digit
But all the numbers in the next digit
We kept the same
Which we were getting while entering the GST number
Why so?
We don't have any client from Kerala
Who will put his GST number here
So what will you do?
Press enter and go ahead and finish the worry
Press A twice with CTRL
And save the screen
Basically remember this
You have to put the GST number of your party
You will get it on the invoice
If you have a client, then the GST ID and password will be
there
Go there and check the profile
Ask the boss
If you are the boss yourself, then you will know
No problem with that
Should I enter V for Voucher?
What should I do?
Select Purchase Voucher
We are buying a loan from Vitti Kutti Anna
Write the supplier invoice number
Which state was he in?
Kerala KER 143 143 The month is about to end
That's why I am reminding you for the last time
Party account name
Alt C
Write Vitti Kutti Anna
Vitti Kutti Anna
Under sundry creditors sundry creditors you have taken the
state as kerala that's it that's it that's it keep on
controlling then create and alt c p-u-r-c-h-a-s-c under
p-u-r-c-h-a-s-c purchase tell me vitty kutty where was
vitty kutty let's do it now is gst applicable type of
supply goods come up on vitty kutty press ctrl enter we
have to take the state tamil nadu control it thank you
khush for telling us that we have made a mistake now we
have to purchase create and alt c what should we buy
camera buy mobile phone buy mobile phone something
different something different something in kg which can be
written in points which can be written in points silver
gold registers registers will not come in points registers
will not come in points milk milk
take milk we have not taken any liquid item take milk wine
no milk is ok amul milk amul milk is india write ltr in
symbol write ltr in formal name liter ltr we will only come
when we have to write litres there will be kilolitres there
will be kilolitres so you have to write kilolitres ok you
have to write kilolitres litre we should have been better
at mathematics what was that litre Write LTR in symbol
No, we have to change the symbol
Write KLTR here
Kiloliter And here write Kiloliter
And UQC is coming below
Press CTRL A
Let GST be applicable
Press yes on set alter
In calculation type take on value
In taxability take taxable
How much rate is integrated? 18% What is the rate? 18%
Press A with CTRL
Press A
Goods CTRL A
Let's buy
Tell me how much?
Sir, we do one thing
How much is the normal rate?
Can you tell?
Let's keep 100 per liter
Ok So
Let's keep 100
Yes Let's buy 6000 liters 6000 kiloliter
And 100 per kiloliter
Is it 6 lakhs?
Say yes or no
Or should I do 600 kiloliter per 1000?
That will be better
Take this 600 kiloliter 1000 per liter
This is your 6 lakhs milk purchase
If you make me do reverse purchase
Then this will happen
Leave one line and come down
What should I put?
Input IGST or input CGST?
Put input IGST sir
Alt C
Write in name
Input IGST
Under duties and taxes
GST Integrated tax
CTRL A
And you would find
That GST amount
Did not come
If someone has come this time
Then tell me
It came
Automatic GST came
Tell me what problem we have here?
Why is it not coming here?
Let's check one by one
Input IGST is absolutely fine
I am checking with CTRL ENTER
Ok
What?
Yes we are seeing
What did you take?
CTRL ENTER
Let's see here
Did we put the rate?
Absolutely There is no problem
Purchase under purchase account
Let's come to Vitti Kutti Anna
In Vitti Kutti Anna
We took Tamil Nadu
Here Vitti Kutti Anna's GST number is not put
Let's put it once and see
Does it make any difference?
It did not make any difference
After that
Let's come to purchase
In purchase also we have made it absolutely fine
Purchase under purchase account
Type of ledger not applicable
GST applicable
Set alter GST detail no
Type of supply
Goods will come
CTRL A
In the beginning GST activate
Listen I am trying to take your attention by mistake
I am trying to take your attention by mistake
Understand carefully
Okay Now Vitti Kutti Anna
This guy is in Tamil Nadu
So on this also 18 GST cannot come
Okay we removed it
Let's check the feature once
Escape and come out
And everyone will press with me
F11 F11 Select the company in which you are working
Select Gopichand Traders
Yes on enable GST
And Look here
Here we have taken the state of Kerala Party
Yes absolutely right
GST number is also put
Absolutely right
Now tell me where is the mistake
We are not getting any mistake anywhere
We cannot find any mistake
What can be the reason?
Let's try one more time
Let's try this again
Vitti Kutti Anna which is in Tamil Nadu
Find out the GST code of Tamil Nadu
You can also google
Tamil Nadu GST code 33 is 33 33 is 33
Okay sir
We have taken Vitti Kutti Anna
Let's try after that
We have tried to enter things from 38
And you find
The amount of Input IGST
It came automatically this time
Rs. 1,08,000
That is, I have tried to attract your attention here
Whenever you create a party ledger
So here
Here Below Here In the last
Where I have reached now
In the tax registration detail below
In GST number
It is important to enter the GST number of the party here
If you want
Things should be smooth
Your automatic rate should be calculated
So this is very important here
Remember this thing for the future
Okay sir
Okay You have it available
With Bill
With Data
With Boss
Provide GST Bill Detail
No On account
Write Narration
Bing
Milk
Purchased
And IGST Charged
Milk is purchased with IGST
Okay sir
Press A with CTRL
Hemant is coming
Press SK and come out
What do you have to do after that?
Open P&L account
And see the purchase is coming 6 lakhs
Stock is also coming
After that open the balance sheet
Alt F1
Duties and taxes are coming 1 lakh 8000
Negative was coming
Negative will be coming
Negative is coming
You can check it
You can see
Negative is coming
Okay sir
Creators are coming 7 lakh 8000
There is no such problem
Not coming
Is it okay?
Let's go
Let's go to the next point
Let's go to the next note
Next note
Purchased goods for 1 lakh from Kerala
This time we buy milk from Kerala 1 lakh rupees
Come
Note it together
What I write on the pad
This is not for fun
This is not for time pass
This is the real
This is the one
Which will be reviewed tomorrow
See in the tally
If you open the entry
You will know
The entries I made
There is a friend here
You can stay here
But But Where is the concept
Concept is here
Okay sir
Concept is here
Purchasing
Purchases will be the account
Debit
Purchases Account Debit 1 lakh rupees
And this time
This time
Who is married
Input CGST
And Import SGST
Kerala In Kerala
Whom to buy
Vitti Kutti Anna
Chitti Kutti Anna
Chitti
Kutti
Chitti Kutti Anna
9% on 1 lakh
How much will it be 9000 And 9000
How much will be the total 1 lakh 18000 The total would be
1 lakh
Purchases will come in the trading account.
Input CGST, SGST balance will increase.
And my balance sheet will show more negative balance.
Negative balance is visible only when the purchased GST is
more.
And the GST collected from the customer is less on sale.
It has not been sold yet.
And my creators named Vitty Kutty Anna will be seen for
1,18,000 rupees.
This is the benefit of taking classes.
If you are covering all the steps in this way, then it is
fine.
Otherwise, there is no benefit.
I am telling you honestly.
If you just want to enter, how do you enter?
You can watch anywhere on YouTube.
If you just want to enter, how do you enter?
If you keep it, it comes in this column, it comes in this
column, it comes in this column.
If you want to learn, then you have to learn.
I explain the entry first.
I write the entry on the pad.
I tell you where its effect should go.
Then I go to the prime and show you its effect.
Its objective is that the hard work of 3-4 hours is going
on.
Since we have started GST entry.
Don't take it as a lot of hard work.
But the more you learn, the more its value increases.
In 3-4 hours, you will learn so much that tomorrow you will
be able to do any entry of GST in any company.
So what's wrong with it?
The more you practice, the less it is.
And every question is giving us a new point.
In the last question, you saw that there were 3 entries to
set off.
Something will happen in this too.
Let's try to post this entry.
Let's do it.
It is very important to learn.
It is very important to practice.
These are fine things.
Tally value etc.
If a child learns for the first time, he may feel
uncomfortable.
That's why it is very important to wash your hands.
There is no one else on the tally.
Let's do the entry.
Enter in V for Voucher.
Supplier invoice number.
This is in Kerala.
Take that.
KR256 Take the date.
Party account name.
You have to create it.
What is the name?
Chitti Kutti Anna.
It will also come in Sunday Crater.
And it is in Kerala.
That's why start with GST number 18 below.
You can put anything later.
It will calculate and give you GST.
Practically, when you pay the bill, you will know.
What is the GST number of Chitti Kutti Anna?
Press A with CTRL.
Purchase will come here in Purchase Ledger.
Name of item.
What to buy from this?
I bought milk.
Should I buy cream from this?
Buy cream.
Will cream be made from milk?
We buy and sell.
There is milk.
Cream will be made from it.
But we do one thing.
Let's buy cream.
No problem.
And in what should we buy cream?
In kg?
Yes, in kg.
Kgs.
Kilograms.
Take a point.
We will do up to 2 decimal points.
CTRL.
GST applicable.
Set alter GST detail.
Yes.
Very very good.
On value.
Taxable.
Rate would be same.
Keep the same 18.
Keep the same.
18, 9 and 9.
CTRL A.
Goods in type of supply.
CTRL A.
Cream.
Tell me how much will come in cream?
How much is the purchase?
Purchase of 1 lakh.
Yes.
Let's buy 50 kgs.
2000 rupees per kg.
Full cream.
Pure.
It is getting expensive.
Market rate.
I have no idea.
What is it?
I am telling you by writing.
After that leave one line and come down.
Alt C.
What will have to be created?
Input.
CGST.
Under.
Duties and taxes.
GST.
Central tax.
CTRL A.
9000 came automatically.
Alt C.
Input.
SGST.
Duties and taxes.
GST.
State tax.
CTRL A.
9000 came.
No.
On account.
Write narration.
Bing.
Cream.
Purchased.
And.
CGST.
SGST.
Charged.
In the bill.
There is CGST and SGST in the bill.
Write it.
Keep doing it together.
What to do after this?
Tell me.
What is the name of the cream?
Cream.
SGST.
Earlier it was 7,00,000 and 8,000 and now it's 1,18,000.
Total is 8,20,000.
6,000 rupees.
Tell me, how was it?
It was good, sir.
It should be good.
It has to be good.
Next point.
Sold goods costing 1,60,000 to Naveen of Hyderabad at a
profit of 25% on cost.
Less trade discount 10%.
You have to learn and understand this very carefully.
Friends, take out your calculator.
Take out your calculator.
You are not 11th or 12th grade.
I will not ask you to do manual calculation.
Calculator is always available for you.
It is always available.
Sold goods costing 1,60,000.
What is the cost price of the goods you are selling?
1,60,000.
What is the cost price? 1,60,000.
What is the profit? 25%.
So, add it. Write 2 and 5 as 25 and press the percent
button.
So, you have to add the profit and get the sale price of
2,00,000.
Friends, look at it this way.
1,60,000 multiplied by 25%
So, you are earning a profit of 40,000.
So, the cost of 1,60,000 plus the profit of 40,000 is
2,00,000.
The shortcut for this is write 2 and 5 as 25 in 1,60,000
and press the percent button on the calculator.
Your amount will be 2,00,000.
Okay, sir.
Less trade discount 10%.
What is the trade discount? 10%.
Minus 10% trade discount from 2,00,000.
Tell me, how much will it be, friends? 1,80,000 is being
sold.
Where is Naveen? In Kerala or somewhere else?
In Hyderabad.
Where is Naveen?
Hyderabad.
Oh, oh, oh.
Naveen is in Hyderabad.
Hyderabad's GST code.
Hyderabad.
Hyderabad's.
Tell me Hyderabad's GST code.
36.
Sir, from where are you telling?
Google it.
Hyderabad's GST code.
You will get everything.
Everything happens by speaking.
Don't you know?
I have seen it in the game.
No.
Yes.
Let's go ahead.
Come on the pad.
Google says clearly.
Come on the pad.
What is the name of the one we are selling?
What is the name of the boy?
Naveen.
We are selling Naveen.
Naveen trader.
We will catch Naveen.
We will strangle Naveen.
Why are you catching?
We are saying that we have sold you stuff.
We will take money from you.
How much stuff have you sold?
How much? 1,80,000.
How did this 1,80,000 come? 1,60,000 cost.
25% profit.
Minus 10% TD.
Trade discount.
So how much was your sales amount? 1,80,000.
Your sales amount was 1,80,000.
Now what will happen? Output CGST, SGST or IGST?
Why don't you speak?
What will happen? Output CGST, SGST or IGST?
IGST.
Output IGST account.
Don't be scared. Speak.
You will get scared by speaking.
There is a victory ahead of fear.
1,80,000 into
Tell me how much is it? 18%.
32,432,400. So how much will you take from total Naveen?
1,80,000 plus 32,400. 2,12,400.
2,12,400.
Absolutely right.
Its effect will be
Naveen will be seen in my debtors.
Where will Naveen be seen?
In debtors.
My sales will be seen in my P&L account.
Income side.
And my output is IGST.
What will happen to that?
It will be seen in my duties and taxes.
And it will reduce my negative balance.
Because now I have collected GST from the customer.
Come, let's go.
Sir, why did you call sales in P&L?
It's the same thing.
Trading P&L.
It's the same thing.
I said trading, P&L.
It's the same thing.
It's a matter of the house.
Don't do this.
Okay.
Escape.
V for Voucher.
Take Effet.
Sale Voucher.
Party account name.
The one you are selling is Naveen.
N-A-V-E-E-N Naveen.
Under.
Sundry debtor.
Take this. Take Hyderabad in the state
I am from Hyderabad
Where is Hyderabad?
Oh yes, we have been talking for so long
I have got the GST code, it is 36 You are doing it from
something else
No, no, it is in Telangana
Yes
It is in Telangana
Mumbai side?
It will come in Telangana
Hyderabad's GST code will be the same as Telangana's
You have taken it in Telangana, you can take any pin code
And, and, and
GST will start from 36, you can put anything else
It will come in sales, all C
Sales under sales accounts
Is GST applicable? Applicable
Goods will come, control A, name of item
You can sell milk and cream only
Right? Right
Now, you have to show the discount
You have to show the discount
You can tell, I have taught you some time ago
How will the discount show?
You have to press
F11, and here will come an option
Use discount column in invoices
After pressing F11, if this option is not coming
Then it will come up, show more features First, press yes
Then you will get this option, use discount column in
invoices
Press yes to this
Then press control A
After that press F12
And in F12, press yes to show more configuration
And 1,2,3,4,5,6,7,8,9,10,11
After pressing enter 12 times, you will get an option
Provide cash trade discount, press yes to that
And press control A
Sorry, now
Let's sell cream, 50 kg which we have
We bought it for 2,000 rupees
So we will sell it for 4,000 rupees
What was our basic price?
No, no 1,60,000 Sell 40 kg
And for 4,500 rupees
4,500 Our total was 2,00,000
Before discount, it was 2,00,000
So your amount will be 2,00,000
How much is your amount? 2,00,000
As soon as you press enter and put 10% in discount
Your amount will change automatically 1,80,000 Keep the
quantity 40 kg
Take 10% in discount
And if you press enter again, you can put the discount
amount
How much is the discount amount? 20,000
The amount is 20,000
Enter Remove the percent column
Don't put anything here
Write 20,000
The discount below
When you reach here, write 20,000
There is a percent mark
We have written it above
Press enter once
What will come?
Enter 32,400 came automatically
Write narration
Goods sold
To Naveen in Hyderabad
Hyderabad Please press
Control plus A
Press A with control and press N
Look at the effect in the balance sheet
Look at me 2,12,400 My sales should be 1,80,000
We will not drop the government in Delhi
Come to P&L
Press SK 32,400 My negative balance was 9,000 1,08,000
Total of 1,26,000 will be reduced to 32,400
This will be 93,600
93,600 93,600 93,600 Right 93,600 93,600 Go to the
government
Go to the next point
I said ok
Sold goods to Kokila 5,60,000 profit 15% discount
Pick up the calculator
How much are you selling to Kokila? 5,00,000 5,00,000 60%
profit 3,00,000 8,00,000 15% discount 6,80,000 6,80,000
Cash sale
Credit Credit Credit Credit Credit Credit Credit Credit
Credit 6 Lakhs Sale plus 50% Margin
Sorry, I said it wrong 5 Lakhs Sale plus 60% Margin
This is 8 Lakhs 60% Profit
Then 15% Trade Discount
How much was 15%? 8 Lakhs minus 15%
This is 6.8 Lakhs
So my sale is 6.8 Lakhs
Now multiply 6.8 Lakhs by 9% 61200 61200 Now tell me how
much money will come in the bank? 680 plus 680 is 200
802400 802400
802400 What will the bank debit affect?
My bank balance will increase
What will the sale affect?
My sales will have to show in the trading account
What will the output CGST and SGST affect?
My output CGST and SGST balance will increase
And my negative liability will decrease
In duties and taxes, output CGST and SGST will also be seen
Negative liability will decrease
Let's do this entry
Come to teleprime
And enter v4 voucher
Do you want to sell?
Yes sir
Which one should I take? Sale voucher or Receipt?
Receipt will be fine? Yes sir, Receipt will be fine
F5 You have to create a bank
Write in the name of Altseeker
Which bank should I take?
Let's take PNB
Punjab National Bank Account
Under bank accounts
Enter any account number
Enter any IFSC code
And save it by pressing ctrl
How much amount have you debited in the bank?
Go to your entry and see 802400 Credit is coming
This is payment, F6
First credit will come in the receipt voucher.
We have to create sales first.
So if we have sales, create the sale.
Name of item is asking what are you selling?
We have sold milk.
Have we sold cream?
We have sold 40.
Okay, let's sell milk.
Let's sell milk.
How much do we have? 600 kilo liters.
And our sale is 6,80,000 rupees.
We bought it for 1000 rupees.
Okay.
Was there any discount here?
Yes, there was a discount.
It was 15% and...
It was 60% total.
Okay.
It was 8,00,000.
So our sale was 8,00,000.
Right.
So if we sell in 2000, then how much amount will we have to
sell?
Sell 400 kilo liters from this.
Sell 400 kilo liters.
And I will tell you the rate.
Keep the rate of 400 kilo liters 2000.
Per kilo liter.
You are buying 1000 rupees per kilo liter.
Keep 2000.
So your 8,00,000 rupees will come out.
How much will come out? 8,00,000 rupees.
Now friends, look here.
Oh man.
Press F11 here.
And use discount column in invoices.
See, it is already yes.
Yes sir, it is already yes.
Press F12.
Here, press yes to show more configuration and see.
Is there any option coming here this time?
See here, is there any option of show discount?
Please check this.
Show discount.
No sir, nothing like this is coming.
It is not coming anywhere.
It means, you have to put the entry on the net basis in the
received voucher.
You have to put it on the net basis in the received voucher.
So you know how much you have to put in the sales.
That's why I am telling you this.
Now here.
Divide 6,80,000 by 400.
1700 rupees.
This will come to you.
1700 rupees.
After deducting the discount.
See the straight thing.
Base price is 2000 rupees per liter.
If you take out 15% discount on it, how much will it be?
300 rupees.
So 2000 minus 300.
How much is the income by deducting the discount? 1700
rupees per kilo liter.
Now it is 680 rupees.
Okay sir.
Now we have to do more credit.
We have to create more things.
What is credit?
Output CGST.
We have to create.
Alt C.
Output CGST.
Under duties and taxes.
GST Central Tax.
Control A.
How much will be the amount?
6200 rupees.
Credit.
Output SGST.
Under duties and taxes.
GST State Tax.
61200.
And the debit will be.
Bank.
Punjab National Bank.
802400.
Being.
Good, sold and.
Check received.
Being good, sold and.
Check received.
Being good, sold and.
Check received.
Press A with control.
And check the effects.
Escape and come out.
P for P&L.
See my sale has increased.
860,000 rupees.
What was 180 before.
It has increased from 680 to 860.
Absolutely right sir.
My bank balance has increased.
See this in the balance sheet.
802400.
There was nothing before.
After that, look here.
In duties and taxes.
Output CGST.
And output SGST is visible.
61200.
And because of this.
Outside in duties and taxes.
Positive balance has come.
In current liability.
Positive balance has come.
In current liability.
Now see.
How did it come?
How much did you pay the input? 9000 input CGST.
Plus 9000 input SGST.
Plus.
108000 input IGST.
So far you have.
The payment of the tax.
To your supplier.
That is 126000.
And how much have you collected?
At the time of sale.
61200.
Plus 61200.
Plus 32400.
154800.
Your GST collection has increased.
How much more money have you collected than the customer?
15800 minus 126.
Means the remaining 28800.
Now you have to pay the government.
The remaining 28800.
You have to pay the government.
That's why you will escape and look outside.
So in the balance sheet.
It is visible in the current liability.
Duties and taxes.
28800 rupees.
This is the thing sir.
This is not the thing.
This is the thing sir.
After this, let's move forward.
Let's go to the next point.
Let's move to the next point.
Advertisement charges.
16000 paid in cash.
Nothing is told.
Same state, other state.
So what will we assume?
Same state.
Come on the pad and write.
Are you paying the advertisement?
How much is the advertisement?
16000.
Write.
Advertisement is an expense.
According to the rule of Debit All Expenses.
Advertisement account will be debited.
Advertisement account debit.
How much money? 16000.
And if there is an expense.
Input CGST and SGST word will come.
Input CGST account debit.
Input SGST account debit.
How much will it be if you put it on 16000? 1440.
And 1440.
There is 140 in 16.
2 cash.
We have paid in cash.
How much will this be in total?
16000 plus 1440 plus 1440.
1880.
18880.
Expense of advertisement will be seen in my P&L.
Debit side.
Input CGST and SGST balance will increase.
Because of which.
My current liability will be less.
Current liability will be less.
Because I have delivered more tax to the government.
And my cash balance will also be reduced.
Sir, there is no balance of cash.
How will it be reduced?
We will put an opening.
We will put an opening in capital.
If you make a company without capital.
This is what will happen to you.
Come on.
Come on teleprime.
First of all, let's do one thing.
Let's put the opening balance of cash and capital.
Okay sir.
So see, you can also put the opening balance from here.
See, you are in the balance sheet.
Come here in current assets.
In cash in hand.
Come quickly.
Press enter.
And you would find that there is nothing here.
There is nothing here.
Okay, it will not be put from here.
It will not be put from here.
You will have to come out.
Come out.
C for create.
Go to ledger.
Alter.
Go to alter.
Because this cash one is already created.
Alter.
Then go to ledger.
Go to cash.
Under cash in hand will remain.
Put the opening balance here.
How much should I keep sir?
Keep it.
If you are keeping it, then keep 2-4 lakh rupees.
3,50,000.
Okay sir.
And also create a ledger.
Create ledger.
3,50,000 rupees.
What is our name?
Who are we in this question?
Gopichand.
So Gopichand's capital.
Gopichand's capital.
Under capital account.
Control A.
Gopichand's capital under capital account.
Control A.
And you would find your balance sheet.
Oh man.
Put it down here.
Balance in capital.
3,50,000.
So now you will find in your balance sheet.
That difference would not be coming.
3,50,000 will come in capital.
And 3,50,000 will be seen in cash.
Yes sir.
Now let's do this.
We have the entry.
Advertisement one.
Come to V for voucher.
And take payment.
F5.
Debit instead of payment.
What is the name of Alt C?
Advertisement.
Advertisement will come under indirect expenses.
Type of leisure.
Not applicable.
Take services in type of supply.
Control A.
How much is the amount? 16,000 rupees.
The amount is 16,000 rupees.
You will have to debit again.
Input CGST.
1440.
You will have to debit again.
Input SGST.
1440.
And payment is done with cash.
Do it with cash.
18,880 rupees.
Bank.
Advertisement charges.
Paid in cash.
With GST.
Save it by doing control A.
Press escape and come out.
See the effects.
P for P&L.
Indirect expense is seen.
16,000 rupees.
Come in duties and taxes.
B for balance sheet.
It is reduced again.
Because the balance of input has increased.
CGST and SGST of input.
More than 1440.
10,440.
10,440 is done.
Okay sir.
And my cash balance.
From 3.5 lakhs.
18,880 rupees has come down.
3,31,120 rupees.
33,1120 rupees.
Now press SK and come out
Press SK and come out
Now let's go to the next point
Come to the pad
Write
What do you call a computer? Office Equipment
Office Equipment Account Debit Office Equipment Account
Debit
How much is the purchase? Please check it out
How much is the purchase?
Purchase for 60,000
Input CGST and SGST will come because nothing else has been
told
Input CGST Account Debit
Input SGST Account Debit
How much will it be if you put 99%? 5400 and 5400
It will be 5400 and 5400
Yes sir, absolutely right
And we are getting the payment from the bank
It will come to the bank 70,800 rupees
A fixed asset called Office Equipment will come to me
Input CGST and SGST
Due to the increase in the balance of CGST and SGST
My negative liability will be reduced
And my bank balance will also be reduced
My bank balance will also be reduced
Which voucher will be the entry?
Entry in the payment voucher
Sir Let's go
Come to teleprime
V for Voucher
Payment Voucher F5
Selected Debit and Alt C
Office Equipment Account
Office Equipment
Fixed Assets will come under
SGST Applicable
Applicable Type of Supply Goods
Take the amount
Debit Input CGST 5400
Again Debit
Input SGST 5400
Credit Cash Bank 70,800 rupees
Being Computer Purchased
And Payment Made by Check
Being Computer Purchased
And Payment Made by Check
Control A
SKB for Balance Sheet
Fixed Assets
Office Equipment
Input CGST and SGST
Due to the increase in the balance of CGST and SGST
My positive liability will be reduced
And my bank balance will also be reduced 73600 Let's go to
the next point
Last In this question
Drawing 20000 Rupees Cash
What will be the Entry
Drawing Account Debit to Cash
You write yourself
Drawing Account Debit to Cash
Write yourself
Write it
Drawings Account Debit to Cash Account
There is no GST on this, 10,000, 10,000
We are giving money, we are not charging anything
GST is applied on some fees
He is taking money and will return it
Instead of this, if we charge interest on drawing
GST will be applied on that
Ok Sir
This is not a service
Take money and return it tomorrow
This is a free service
Till interest is not charged, GST will be applied
Absolutely GST will be applied on the bank
GST can be applied on the interest received from the bank
Ok Sir
So now you come to teleprime
And this is payment, so you have to enter the payment
voucher
V for Voucher
Money is going from you, payment Debit will be done,
drawings
Alt C and create
Gopi Chans Drawing Account
Gopi Chans Drawings Account
Under Capital
Control A
How much money? 20,000
Credit will be done, cash 20,000 Being
Cash withdrawn
For personal use
Being cash withdrawn for personal use
Control A
Come out, B for Balance Sheet
See, drawing is coming out of the capital
And my cash balance has become even less The 3,31,120 was
left 3,11,120 Became less than 20,000
And drawing is coming out of the capital
Ok This is the effect of this transaction
This is the effect of this transaction Ok Ok Sir
Come, let's try to revise this question
Now the benefit and objective of revising is That you
remember things in your mind
So much practice should be done
That you don't need telly
Things keep coming to mind
Bought goods for 6 lakhs
From other state
Say journal entry
Please dictate the journal entry
I don't want anything
What will be the debit and credit?
Debit will be purchase account
And input
IGST account
To creditor with whom we are buying Basic value will come
in purchase 6 lakhs
No talks
And the rate will come in input IGST
Ok Total amount will come in creditor
Purchase goods for 1 lakh from Kerala Kerala is buying from
same state
So what will come with purchase account debit
Input CGST account debit
Input SGST account debit
To creditor 1 lakh rupees in purchase
No or no 18,000 total input in CGST and SGST And 1,18,000
in creditor
Sold goods costing 1,60,000
To Naveen of Hyderabad
Naveen sold goods to Hyderabad 1,60,000 If you add 25%
profit
It will become 2 lakhs
If you minus rate discount 10% 20,000 It will become
1,80,000
Entry in sale voucher
We are selling loan
Same state
This is other state
Telangana Output IGST To bring discount column
You have to press F11 and F12
Ok Next point
We have sold to Kokila
Kokila is in Kerala
Same 5 lakhs
Plus 60%
Profit 8 lakhs
Minus 15%
It will become 6,80,000
Output CGST SGST Output SGST Output IGST Duties and taxes
Current liability
Increase or decrease
Increase Because that money
Recovered from customer
Government asks you
Take from customer
Give us
Input CGST Input SGST Input IGST What they do
Your liability
Reduce Because that much money
Through supplier
To government
Have reached
They reduce your tax liability
Take to negative
Ok Advertisement charges
You have paid in cash
Input CGST SGST Advertisement account
Debit To cash account
Computer bought
It is written in the name of office equipment
Paid by cheque
Bank account will be created
Ok Computer is given the name of office equipment
Ok Drawing to cash
No GST
Direct 20,000 20,000 No GST
Ok Ok Sir Tell us one thing
Last Entry To set off
Will not do
Friends Like In the last example
We did
Exactly the same
Set of entry
Will be
Exactly the same
Set of entry
Will be
First of all
Output IGST Payment For which
Input IGST Will use
Then Input IGST Will use
Will finish
Output Liability Output IGST Liability Payment Still If
Input IGST Output SGST Will use
Otherwise Output SGST Debit To Input SGST Will use
To Bank Payment Will be
Previous Example See Ok How are the entries
In it
Your homework
Last Entry Homework A little
You will try
However much you want
But you see
Listening Ultimately This is
That you
When you are sitting in the job
How to do
There will be no one
Work pressure
Separately And yourself
You will be your best friend Yourself Your best friend
That's why you have to run your own mind
There Take help from anyone
That's why it's time for homework You should also get a
little homework
You Ok Balance Let's see
Once
Here Some In this way
Balance Ok Note them on a paper
Keep it
Then move towards passing those entries Ok Ok It will be
convenient
You are doing it for the first time
That's why
Convenience Ok Ok And friends
Do revise
Please My request
To all people
Ultimately The class we did today
Ok Revision is mandatory
Revision is first
Say once
Say a thousand times
Without revision
There is nothing
Ok See you in the next clip.
Thank you, bye bye and take care.