Let's Learn Tally for Computer Students from Duliajan

GST-Goods and Service Tax

Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the Central and State Governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services are taxed at the following rates:  0, 5%, 12% ,18% and 28%.

There is a special rate of

1. 0.25% on rough precious and semi-precious stones and 3% on gold.  
2. In addition a cess of 15% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. 
3. GST was initially proposed to replace a slew of indirect taxes with a unified tax and was therefore set to dramatically reshape the country's 2 trillion dollar economy. 

Rate of Tax

The GST is imposed at different rates on different items.

• The rate of GST is 18% for Soap.
• 28% on Washing Detergents.
• GST on movie tickets is based on slabs, with 18% GST for Tickets that cost less than Rs. 100 and 28% GST on tickets costing more than Rs.100.
• The rate on under-construction property booking is 12%
• Some industries and products were exempted by the government and remain untaxed under GST, such as

1. Dairy Products,
2. Products Of Milling Industries,
3. Fresh Vegetables & Fruits,
4. Meat Products, and Other Groceries and Necessities.

We already know that the GST slabs are pegged at :  0%, 5%, 12%, 18% & 28%.

There are currently Three types of GST:

•  CGST – Central GST – Applies to Purchase or Sales within the State – goes to Central Government

•  SGST – State GST – Applies to Purchase or Sales within the State – goes to State Government

• IGST – Integrated GST – Applies to Purchase or Sales outside the State – goes to Central Government.

List of State Code

Serial No.	State/UT Name	State Code
1	Jammu and Kashmir	01
2	Himachal Pradesh	02
3	Punjab	03
4	Chandigarh	04
5	Uttarakhand	05
6	Haryana	06
7	Delhi	07
8	Rajasthan	08
9	Uttar Pradesh	09
10	Bihar	10
11	Sikkim	11
12	Arunachal Pradesh	12
13	Nagaland	13
14	Manipur	14
15	Mizoram	15
16	Tripura	16
17	Meghalaya	17
18	Assam	18
19	West Bengal	19
20	Jharkhand	20
21	Odisha	21
22	Chhattisgarh	22
23	Madhya Pradesh	23
24	Gujarat	24
25	Daman and Diu	25
26	Dadra and Nagar Haveli	26
27	Maharashtra	27
28	Andhra Pradesh (before division)	28
29	Karnataka	29
30	Goa	30
31	Lakshadweep	31
32	Kerala	32
33	Tamil Nadu	33
34	Puducherry	34
35	Andaman and Nicobar Islands	35
36	Telangana	36
37	Andhra Pradesh (new)	37

Tally - GST (Goods and Service Tax)

Q.1. Maintain Accounts with Inventory. (GST 18%)

a) Ram started business with Cash Rs. 250000/-

b) Purchase 150 Bottles Pepsi Rs.50/-, 100 Bottles Coca-Cola Rs.60/-,120 Bottles Fanta Rs.70/- from M/S Ravi Store, Duliajan, Assam.

c) Sold 50 Bottles Pepsi Rs.60/-, 30 Bottles Fanta Rs.80/- in Cash (Tinsukia).

d) Purchase 200 Bottles Moutain Dew Rs.90/-, 500 Bottles Mirinda Rs.70/-, 600 Bottles Frooti Rs.55/- from M/S Anjoli Store, New Delhi.

e) Sold 40 Bottles Coca-Cola Rs. 75/- to Mr. Ajoy, Duliajan, Assam.

f) Deposited to SBI Bank Rs.6000/- & Deposited to UBI Rs.7000/-

g) Purchase 250 Bottles Amul Cool Rs.40/-, 290 Bottles Amul Lassi Rs.50/-, M/S Rajesh Store, Maharashtra.

h) Return 10 Bottles Pepsi to M/S Ravi Store, Duliajan, Assam.

i) Sold 100 Bottles Moutain Dew Rs. 95/- and 200 Bottles Frooti Rs.65/- to Mr. Singh & Co., Manipur.

j) He Paid Cash Rs.20000/- to M/S Ravi Store.

k) Return 6 Bottles Mountain Dew and 5 Bottles Frooti From Mr. Singh & Co., Manipur.

l) He paid Salary Rs.3000/ and Rent Rs.2500 for Cash.

m) Sold 120 Bottles Amul Cool Rs.55/-, 100 Bottles Mirinda Rs.80/- and 90 Bottles Amual Lassi Rs.60/- to Mr. Roy & Co., Arunachal Pradesh.

n) Receive Cash Rs.23000/- from Mr.Singh & Co. 

o)Paid GST.

Q.2. Maintain Accounts with Inventory. (GST @ 12%)

a) Mr. Raj started General Store with Rs.400000/- Capital in Cash.

b) Purchased 100 Pcs Saree @ Rs.120/-, 50 Pcs Baby Suit @ Rs.150/-, 25 Pcs Baby Socks @ Rs.12.50/- from Amar Cloth Stores, Duliajan

c) Purchased 50 Pcs Dhoti @ Rs.66/-, 50 Pcs Shawl @ Rs.120/-, 100 Pcs Shirts @ Rs 200/- from Surabhi Cloth Store, Delhi

d) Sold 40 Pcs Saree @ Rs.150/- for Cash (Sivsagar).

e) Deposited to SBI Bank Rs.4000/- & Deposited to Indian Bank Rs.5500/-

f) Purchased 100 Pcs Dhoti @ Rs.60/- from Gajandra Cloths, Tripura

g) Sold 25 Pcs Dhoti @ Rs.75/- , 20 Pcs Shawl @ Rs. 150/-, 40Pcs Shirts @ Rs.240/- for Gupta Cloth Store, Dibrugarh.

h) Paid Rs.20000/- to Amar Cloth Store.

i) Sold 30 Pcs Saree @ Rs.150/- , 30 Pcs Baby Suite @ Rs. 175/-, 15 Pcs Baby Socks @ Rs.15/- to Das & Co., Kolkata.

j) Paid Rs.5000/- to Gajandra Cloths.

k) Sold 5 Pcs Baby Socks @ Rs.15/- for Cash (Nagaland).

l) Purchased 50 Pcs Tawal @Rs.40/- And 40 Pcs Rumal @ Rs.15/- for Cash (Delhi).

m) Paid Salary Rs.1500, Electricity Bill Rs.500 and Rent Rs.2000 for Cash.

n) Sold 15 Pcs Shawl @ Rs.150/-, 50Pcs Shirts @ Rs.240/- to Mr. Shyam Store, Punjab.

o) Receive Cash Rs.10000/- from Das & Co.

p) Return 10 Pcs Saree to Amar Cloth Stores, Duliajan

q) Sold 20 Pcs Tawals @RS.55/-, 20Pcs Rumal @ Rs.17.50/- for Roy & Co, Duliajan.

r) Paid  Rs. 25000/- to Surabhi Cloth Store

s) Return 5 Pcs Shrits from Surabhi Cloth Store, Delhi

t) Sold 40Pcs Dhoti @ Rs.75/- & 15 Pcs Rumal @Rs.17.50/- for Cash (Duliajan).

u) Receive Cash Rs.5000/- from Mr. Shyam Store, Punjab.

v) Paid GST

Q.3. Maintain Accounts with Inventory. (GST 14%)

a) Mr. Ram  Started business with Cash Rs.500000/-

b) Purchase 100 Pce Pen Drive Rs.300, 200 Pce Mouse Rs.250 and 350 Pce Keyboard @Rs.300 from Roy & Co., Maharastra

c) Opened a current account in State Bank of India Deposited Rs.10000/-.

d) Sold 50 Pcs Pen Drive Rs.350, 80 Pce Mouse Rs.300 and 70 Pcs Keyboard @Rs.350/- to Das & Sons, Manipur.

e)  Purchase 100 Pce Samsung Mobile Rs. 2000/- 300 Pce Nokia Mobile Rs.3000/-,450 Pce Oppo Mobile Rs. 2500/- from Sharma & Co., Guwahati

f)  Paid cash Rs.150000 to Roy & Co., Maharashtra

g) Sold 40 Pce OPPO Mobile Rs. 3000/- 50 Pce Samsung Mobile Rs.3000/-,to M/s Dutta Store, Duliajan for Cash

h) Receive Cash Rs.65000/- from Das & Sons, Manipur.

i) Purchase 200 Pce Mobile Cover Rs.100/- , 150 Pce Memory Card Rs.120/- from Raj & Co.  Delhi.

j) Return 4 Pce OPPO Mobile to Sharma & Co., Guwahati

k) Sold 50 Pce Nokia Mobile Rs. 4000/- 90 Pce Mobile Cover Rs.170/-,to M/s Mobile Point, Tinsukia.

l) Paid Salary Rs.3000/- Mobile Bill Rs.600 & Rent Rs.2000/-

m) Purchase 200 Pce Lenovo Mobile Rs.2500/-,175 Pce Gionee Mobile Rs.2000/- 300 Pce Mobile Battery  Rs.150 /-, 250 Pce Mobile Charger Rs.180/- from M/s Das Store, Dibrugarh

n) Receive Cash Rs.200000/- from M/s Mobile Point, Tinsukia.

o) Paid cash Rs.10000 to M/s Das Store, Dibrugarh

p) Sold 10 Pce Lenovo Mobile Rs.2800/-, 15 Pce Samsung Mobile Rs.3000/- 12 Pce Nokia Mobile Rs.3200/- 20 Pce Oppo mobile Rs.2900/-for Cash (Gujarat).

q) Return 7 Pce Moblice Cover from M/s Mobile Point, Tinsukia

r)  Sold 10 Pce Pen Drive Rs.320/-, 10 Pce Mobile Cover Rs.140/- ,15 Pce Memory Card Rs.170/- 13 Pce Mobile Charger Rs.250/-to M/s  Nandini Store, Arunachal Pradesh

s) Receive Cash Rs.10000/- from M/s  Nandini Store, Arunachal Pradesh

t) Paid GST

 

Q.4. Maintain Accounts with Inventory.

a) Mr. Rajdeep Singh started a business with Cash Rs.500000/-

b) Purchased 400 Pcs Salwar @ Rs.200/-from Mr. Bos, Duliajan on credit.  (GST @5%)

c) Sold 250 Pcs Salwar @ Rs.260/- to Mr. Singh, Delhi for Cash.    

d)  Purchased 200 Pk Butter @ Rs.30/- 150 Pk Almonds @Rs.65 from Mr. Raj, Nagaland (GST @12%)

e) Purchased 100 Pcs Mobile Phone @ Rs.100, 150 Pce Mobile Charger @Rs.80/-, 200 Pce Mobile Cover @Rs.70/- from Mr. Nabin, Goa.        (GST @ 12%)

f) Paid to Mr. Bos, Duliajan account Rs.50000/.

g) Purchased 250 Pcs Umbrella @ Rs.100 for Cash (Dibrugarh).                  (GST @ 12%)

h) Sold 50 Pcs Mobile Phone @ Rs.150, 100 Pce Mobile Charger @Rs.100/-, 93 Pce Mobile Cover @Rs.90/- to Mr. Barma., Gujarat          

           
i) Purchased 100 Pk Tea @ Rs.80/- and 250 Kg Sugar @ Rs. 40 from Mr. Roy, Tinsukia (GST @5%)

j) Paid Salary Rs.2000/- & Commition Rs.500/-.

k) Purchased 150 Pk Pasta @ Rs.30 and 180 Pk Ice-Creams @ Rs.40 for Cash (Delhi). (GST @ 18%)

l) Paid to Mr. Nabin, Goa account Rs.10000/.

m) Sold 55 Pcs Umbrella @ Rs.130 to Mr. Das, Guwahati   

                          
n) Return 10 Pk Buttr to Mr. Raj, Nagaland.

o) Receive Cash from Mr. Barma Rs. 25000/-

p) Sold 110 Pk Butter @ Rs.40/- 90 Pk Almonds @Rs.80/- to Mr. Joy, Kerala.         
q) Paid to Mr. Raj, Nagaland Rs.4000/-.

r) Sold 100 Kg Sugar @ Rs.50/- and 40 Pk Tea @ Rs.90/- for Cash (Goa).  

s) Receive Cash from Mr. Joy, Kerala Rs. 11000/-

t) Return 10 Pce Mobile Charger from Mr. Barma., Gujarat 

u) Deposited to UBI Bank Rs.4000/- & Deposited to Canara Bank Rs.6000/-

v) Sold 80 Pk Pasta @ Rs.35 and 100 Pk Ice-Creams @ Rs.60 to Mr. Krishna, Moran

w) Receive cash from Mr. Krishna, Moran Rs.8000/-

x) Paid GST.

Q.5. Maintain Accounts with Inventory.(GST @ 28%)

a) Mr. Rajesh  started business with Cash Rs.100000/-

b) Purchase 200 Pcs Umbrella @ Rs.120, 150 Pce Water Bottle Rs.40- and 100 Pce Pencil Box Rs.50 from Raj & Sons, Tinsukia.

c) Purchased 150 Pcs Baby Watch @ Rs.50/-, 80 Pcs Baby Cap @ Rs.25/-, From Nath Watch, Delhi.

d) Opened a current account in UBI Bank Deposited Rs.5000/-.

e) Paid for Internet Bill Rs.400/-, Mobile Bill Rs.350/- and Rent Rs.3000/- by Cheque (UBI).

f) Sold 10 Pcs Umbrella @ RS.150, 20 Pce Pencil Box Rs.60 to Roy & Sons, Gujarat.

g) Paid to Raj & Sons.

h) Purchased 10 Tables @ Rs.400/- and 10 Pcs Chairs @ Rs.300/- from M/S Furniture House , Guwahati

i) Purchased 50 Pcs Classmate Copy Rs.20 and 100 Pce Notebook Rs.25/- to M/s Verma Store, Guwahati  For Cash

j) Return 6 Pcs Baby Watch to Nath Watch, Delhi.

k) Receive Cash from Roy & Sons.

l) He invested capital into the business Rs.25000/-

m) Sold 15 Pcs Umbrella @ Rs.140, 20 Pce Water Bottle Rs.55, 10 Pce Baby Watch Rs.40 and 10 Pce Class-Mate Copy Rs.28/- to M/s. Borah, Dibrugarh.

n) Paid Cash to Nath Watch, Delhi

o) Purchased 100 Pcs Gel Pen Rs.10 and 150 Pk Pencil Rs.25, 140 Pce Eraser Rs.2 and 200 Pce Writo-meter Pen   Rs.15 from Mr. Barma, Kolkata.

p) Return 5 pce Water-Bottle from M/s. Borah, Dibrugarh.

q) Paid Cash to M/S Furniture House, Guwahati.

r) He sold 10 Pce Gel Pen Rs.12, 25 Pk Pencil Rs.30 50 Pce Writo-meter Pen Rs.20 to M/s Dutta & Co. , Meghalaya.

s) Receive Cash from M/s. Borah, Dibrugarh.

t) He sold 20 Pce Umbrella Rs.150, 30 Pce Gel Pen Rs.15, 15 Pce Class-mate Copy Rs.30,  50 Pce Eraser Rs.5,  75 Pce Water-Bottle Rs.60,  30 Pce Pencil Box Rs.75/- to Mr. Rajesh, Himachal Pradesh  For Cash

u) Paid Cash to Mr. Barma, Kolkata

v) Receive Cash from M/s Dutta & Co. ,Meghalaya

w) Paid GST

  

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