When you buy goods or services worth at an 18% GST rate , your journal entry will look like this: Account Head Purchase A/c Input CGST (9%) Input SGST (9%) To Creditor / Bank A/c $11,800 Key Components
📍 Always reconcile these entries with your GSTR-2B statement before filing your monthly returns to ensure the supplier has uploaded the invoice. 18 - Purchase GST Entrypdf
These are Assets (Current Assets). Since you can offset this tax against your future sales tax, it is not an expense. When you buy goods or services worth at