Input GST & Output GST | Goods & Service Tax | GST in Accounts | Letstute Accountancy

Hello friends,
Check out our video on Categorizing of GST which is a base concept for understanding GST for any Accountant or Financial Accounting Professionals

Friends in this video we have explained the core concept of GST as follows:
1) Input GST ( Intra-state & Inter-state transaction)
2) Output GST ( Intra-state & Inter-state transaction)
3) Problems sums solving
4) Practice Sums

This video can be useful for students of CA Foundation, Any Accounting professional, FYBcom, FYBAF, SY & Fy students etc and also for any students in commerce graduation course or any aspiring students, who wish to learn accounts.
Thank you!

Plz check out the previous videos for better understanding of the concepts

For further detailed information and knowledge on GST stay tuned to our channel We hope, with the help of our video your base concept of GST has strengthened and you are much eager to know more about it.

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Our goal is to make some meaningful positive impact in the education segment by providing quality education content to all students who want to explore, visualize and apply their learning to real life. We explain concepts in a very detailed and logical manner. We put focus on 'Self-learning' and not teaching. Students need not mug up anything or try to remember things but they should be able to understand it in a way that the knowledge stays with them for life.
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[Fai]

A great explanation thanks a lot❤
I was bit confused what's is Input and output you've made it clear.

[xxshrixx]

Thank you so much mam for ur wonderful explanation ❤

[Suresh-ii]

Q.1) answer is:- calculation of GST= 15000*18%= 2700
GST payable: 1350+1350 = 2700.
total amount payable : 17700.
Journal entry will be, date 19/02/2019, purchase A/C Dr 15000 CGST A/c Dr 1350 SGST A/c Dr 1350 To Supplier A/c 17700.
(Being purchase of table at 18%gst) I think this is the correct entry

[rahulsosonawane]

Very nice explained
Appreciate your efforts providing knowledge that requires for account person

[Suresh-ii]

Q.2) answer is:- calculation of GST= 26000*18%= 4680.
GST charged: IGS 18% 4680
Total amount receivable: 26000+4680= 30680.
Journal entry will be
Customer A/c Dr 30680
To Sales A/c 26000
To IGST A/c 4680.
Being sales of Granite at 18%gst. I think this is the correct solution or entry!

[khushijain]

I am able to understand this video nicely and understand my doubt's also

[nandakumar.p]

V nice class, I have a doubt
For Commission Paid how GST part will come ? Is it Input Gst or Output Gst

[pratikss]

Mam, , what will be the journal entry for amount of Input IGST to be received from the government?? Means Input IGST is more than Output SGST...

[ajeniston]

Purchase entries comes under the purchase voucher, then y u entered in journal voucher. Can u explain it mama?

[rekhasashte]

credit note me input GST lagega ya / output GST lagega

[dhanyatashettkankonkar]

But there is 5%, 12%, 18%, 28% gst on different items.
So when you set a question...how do we know which gst to be calculated?

[venkatkumardaga]

Excellent teaching & presentation in the form of table, thanks mam

[rohitnarkhede]

Sir pls make a video of commerce 11th std illustration
Pls
Pls

[Versatile_vibesk]

In output sales (output gst ) for seller..

1- asset
2- liability
3- income
4- expense ...
Reply fast tomorrow will be exam

[Saravanan-icwl]

1. Purchases ac dr. 15, 000
Input CGST ac dr. 1, 350
Input SGST ac dr. 1, 350
To Cash/bank ac. 17, 700

2. Cash/bank ac dr. 30, 480
To Sales ac 26, 000
To Output IGST ac. 4, 680