18 - Purchase Gst Entrypdf ✰ < Top >

If you tell me which you use (like Tally, QuickBooks, or SAP), I can provide the specific navigation steps for that system.

ITC must be claimed within the statutory time limits.

To record an intra-state purchase (GST within the same state) in your accounting system, follow this guide for a standard 18% GST entry. 18 - Purchase GST Entrypdf

If the supplier is from a different state, replace CGST/SGST with IGST (18%) . Tax Calculation Formula Base Amount: Total Invoice Value / (1 + Tax Rate) GST Amount: Base Amount × 18% CGST/SGST: GST Amount ÷ 2

📍 Always reconcile these entries with your GSTR-2B statement before filing your monthly returns to ensure the supplier has uploaded the invoice. If you tell me which you use (like

This represents the base value of the goods (tax-exclusive).

You must have the supplier’s valid GST number to claim the Input Tax Credit (ITC). If the supplier is from a different state,

These are Assets (Current Assets). Since you can offset this tax against your future sales tax, it is not an expense.