Madhav kaushik

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Now a days every one of you know that we are giving GST on every products. NOW HERE A QUESTION ARISE WHAT IS                                     GST Goods and Service Tax  ( GST ) is an  indirect tax  (or  consumption tax ) levied in  India  on the supply of goods and services. GST is levied at every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. The tax came into effect from July 1, 2017 through the implementation of  One Hundred and First Amendment of the Constitution of India  by the  Indian government . The tax replaced existing multiple cascading taxes levied by the  central  and  state  governments. The tax rates, rules and regulations are governed by the GST Council which comprises finance ministers of  centre  and all the states...

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Problem - 1 Mr. Nirmal has the following transactions in the month of April. Write Journal Entries for the transactions. 10 th  April : Commenced business with a capital of 1,00,000 11 th  April : Purchased goods from Veeru for 20,000 13 th  April : Purchased Goods for Cash 15,000 14 th  April : Purchased Goods from Abhiram for cash 9,000 16 th  April : Bought Goods from Shyam on credit 12,000 17 th  April : Sold goods worth 15,000 to Tarun 19 th  April : Sold goods for cash 20,000 20 th  April : Sold goods to Utsav for cash 6,000 21 st  April : Sold goods to Pranav on credit 17,000 22 nd  April : Returned goods to Veeru 3,000 23 rd  April : Goods returned from Tarun 1,000 25 th  April : Goods taken by the proprietor for personal use 1,000 26 th  April : Bought Land for 50,000 27 th  April : Purchased machinery for cash 45,000 28 th  April : Bought computer from Intel Computers for 25,000 2...