GST
1. Introduction to GST
GST (Goods
& Services Tax)ek
comprehensive indirect tax hai jo India mein pehle lagne wale kai saare
indirect taxes ko replace karta hai.
- Pehle
(pre-GST), alag-alag taxes lagte the, jaiseExcise Duty(manufacturing par),VAT(sale par),Service Tax(services par),CST(inter-state sale par).
- GSTke aane se yeh saare taxes ek hi mein combine ho gaye aur“tax on tax” (cascading effect)door
ho gaya.
Indirect Tax ka matlab:
- Ye
wo tax hai jiska burden (ultimately) consumer par hi aata hai, par pehle
yeh manufacturer/ service provider/ trader ko government ko dena hota hai,
aur woh apne buyer se recover kar leta hai.
2. Pre-GST Scenario
(Tax-on-Tax ka Effect)
Example:
1.Manufacturer ne goods
banaya (cost = ₹1,00,000). Manufacturer neExcise
Duty @ 18% = ₹18,000charge kiya.
2.Trader ko yeh goods
total₹1,18,000(₹1,00,000 +
₹18,000) mein mile.
3.Ab jab trader aage
consumer ko sell karega, toh wohVATcharge karega (maan lo 18%). Par trader koExcise
Dutyka credit nahi milta tha.
4.Isliye jab trader
apna margin add karke aage VAT lagata tha, toh effectively tax pe bhi tax lag
raha tha. Isse final price consumer ke liye badh jaata tha (cascading effect).
Is
example mein:Trader ke liye goods ki cost hi 1,18,000 ho gayi, kyunki 18,000 ka excise
credit woh claim nahin kar pa raha tha. Toh us par phir se VAT lagta tha. Isse
price badhta jaata hai aur final consumer zyada paise deta tha.
3. Post-GST Scenario (No
Cascading)
GST aane ke baad sab stages
par ek hi tax lagta hai:
- Agar
manufacturer ne trader seGSTcharge kiya (maan lo 18% = ₹18,000), toh trader us₹18,000koInput Tax Credit(ITC) ki tarah treat karta hai.
- Jab
trader aage customer ko bechega, toh jooutput
GSTwoh charge karega, usmein seinput tax (₹18,000)ka credit adjust kar lega.
- Isse
trader ke liye effectively goods ki cost₹1,00,000hi rahegi, aur sirf uskavalue addition
(margin)par tax lagega.
Matlab: Onlyvalue additionpar tax lagta hai, koi “tax pe tax” nahin hota. Finally,poora burdenfinal consumer par hi jaata
hai.
4. Salient Features of GST
1.Supply-based Tax:
Goods ya services kisupplypar
GST lagta hai. (Manufacture ya sale, dono hi supply maani jaati hai.)
2.Value Added par Tax:
Har stage par sirfvalue additionpar tax lagta hai.
3.Destination-based Consumption Tax: Jahan goods consume hote hain, wahan ka state/UT ko tax
milta hai.
4.No Cascading:
“Tax on tax” nahi hota.
5.Harmonised Law:
Sab jagah rates aur procedures mostly similar hain.
5. Types of GST
GST meindual structurehai:
1.CGST(Central GST): Central Govt. ke dwara intra-state supplies par.
2.SGST(State GST): State Govt. ke dwara intra-state supplies par. Agar Union
Territory with legislature hai (jaise Delhi), toh SGST ke badle UT apna UTGST
ya SGST laga sakti hai.
3.UTGST(Union Territory GST): Union Territories (jahan legislature nahi) ke dwara
intra-state supplies par (e.g. Chandigarh, Andaman & Nicobar, etc.).
4.IGST(Integrated GST): Yehinter-statesupplies ya import/export par lagta hai, aur Centre ke paas collect hota hai.
IGST ka rate roughly CGST + SGST ke barabar hota hai.
Intra-statematlab supplier aur place of supplysame stateya same UT mein.
Inter-statematlab supplier aur
place of supplyalag-alag state/UTmein.
6. Input GST (Input Tax) aur
Output GST (Output Tax)
1.Input Tax:
Yeh wo GST hai jo humne khareedte waqt pay kiya (on purchases of goods,
services, fixed assets, etc.). IsseInput GSTkehte hain, jiska credit humein milta hai.
2.Output Tax:
Yeh wo GST hai jo hum apne customer/consumer par charge karte hain (sales par).
Input Tax
Credit (ITC)se hum apnaOutput Taxadjust kar sakte hain. Sirf
difference amount hi government ko pay karna padta hai.
Example:
- Maan
loOutput GST liability=
₹750 hai.
- Humein
already apne inputs parGST paid= ₹500 hai.
- Toh
hum ₹500 ka credit use karke sirf₹250hi deposit karenge.
7. Utilization of Input Tax
Credit
Credit
Type | Pehle
Adjust Karna | Baad
mein Adjust Kar Sakte Hain | Nahin
Kar Sakte |
IGST
Credit | IGST liability | CGSTyaSGST (koi bhi order) | - |
CGST
Credit | CGST liability | IGST | SGST ke liye nahin |
SGST
Credit | SGST liability | IGST | CGST ke liye nahin |
8. Accounting Treatment
(Input GST & Output GST)
(A) Purchases (Intra-State)
Transaction | Journal
Entry |
Goods purchase worth
₹1,00,000 + GST 18% (CGST 9% + SGST 9%) = ₹18,000 (say) | Purchases
A/cDr. (₹1,00,000)Input CGST A/cDr. (₹9,000)Input SGST A/cDr. (₹9,000)
ToCreditors / Bank A/c(₹1,18,000) |
(B) Purchases (Inter-State)
Transaction | Journal
Entry |
Goods purchase worth
₹1,00,000 + IGST @18% = ₹18,000 | Purchases
A/cDr. (₹1,00,000)Input IGST A/cDr. (₹18,000)
ToCreditors / Bank A/c(₹1,18,000) |
(C) Sales (Intra-State)
Transaction | Journal
Entry |
Goods sold worth ₹1,20,000
+ GST 18% (CGST 9% + SGST 9%) = ₹21,600 (say) | Debtors /
Bank A/cDr. (₹1,41,600)
ToSales A/c(₹1,20,000) ToOutput CGST A/c(₹10,800) ToOutput SGST A/c(₹10,800) |
(D) Sales (Inter-State)
Transaction | Journal
Entry |
Goods sold worth ₹1,20,000
+ IGST @ 18% = ₹21,600 | Debtors /
Bank A/cDr. (₹1,41,600)
ToSales A/c(₹1,20,000) ToOutput IGST A/c(₹21,600) |
(E) Payment of GST liability
using Input Tax Credit
Jab hum apna output GST
liability set off karte hain, tohOutput GSTko debit karte hain aurInput GSTko credit karte hain, jis extent tak credit use hota hai.
Transaction | Journal
Entry |
Adjust Output GST
liability ₹x using Input GST credit | Output
CGST A/cDr. (₹...)Output SGST A/cDr. (₹...)Output IGST A/cDr. (₹...) ToInput CGST A/c(₹...)
ToInput SGST A/c(₹...) ToInput IGST A/c(₹...) |
Agar kisi wajah se credit
kam hai, toh balance amount humBank A/cse pay kar dete hain.
9. Reversal of GST
Input GSThamein kab reverse karna pad sakta hai?
- Purchases
return ho gayi
- Goods
drawings ke liye nikaal liye
- Free
samples diye (jahan supply nahi maana gaya)
- Goods
lost ho gaye (fire, theft, etc.)
- Kuch
aisi inputs jinke liye GST credit allowed nahi hai
Output GSTkab reverse hoga?
- Jab
goods humne beche, par baad mein customer ne return kar diye, toh Output
GST bhi reverse ho jaata hai.
10. Ek Chhota-sa Example
(Step-by-Step)
Situation:
- Manufacturerse trader ne ₹1,00,000 ke goods kharide, GST 18% (IGST maana). Total
invoice = ₹1,18,000.
- Trader
ne aageCustomerko ₹1,40,000
+ GST 18% = ₹1,65,200 mein becha (intra-state maana). Toh ab 18% ka
break-up CGST 9% + SGST 9% hoga (₹12,600 + ₹12,600).
Step 1: Purchase entry (inter-state se aaya maal, toh IGST)
Purchases A/c
Dr. 1,00,000
Input IGST A/c
Dr. 18,000
To Creditor/Bank
A/c 1,18,000
Step 2: Sale entry (intra-state sale)
Debtors/Bank A/c
Dr. 1,65,200
To Sales
A/c 1,40,000
To Output CGST
A/c 12,600
To Output SGST
A/c 12,600
Step 3: Liability set-off (man lo ab Output total = ₹25,200,
and hamaare Input IGST = ₹18,000 available):
1.Pehle hum IGST credit
se CGST/SGST set off kar sakte hain (since IGST credit can be utilized for
IGST, then CGST/SGST).
2.Balance agar kuch
bachta hai to bank se pay karenge.
Output CGST A/c Dr.
12,600
Output SGST A/c Dr.
12,600
To Input IGST
A/c 18,000
To Bank
A/c 7,200 (Difference if any)
- Maine
assume kiya ki IGST credit se hum 18,000 use kar sake. Baaki 7,200 pay
karna pada (agar required ho).
Is tarah se hum books of
accounts mein GST ko dikhate hain.
Key Takeaways
1.GSTeliminates cascading effect.
2.Input Tax Creditse
cost reduce hoti hai.
3.Alag-alagheadsof GST ke liye alag-alagInput A/caurOutput A/cmaintain karte hain.
4.Destination-basedconsumption tax hai, isliye jahan consume hota hai wahan ke state ko tax milta
hai.
Umeed hai, yeh Hinglish
explanation aur tables ke saath aapko GST ke accounting treatment ko samajhne
mein madad karega!
GST
1. Introduction to GST
GST (Goods
& Services Tax)ek
comprehensive indirect tax hai jo India mein pehle lagne wale kai saare
indirect taxes ko replace karta hai.
- Pehle
(pre-GST), alag-alag taxes lagte the, jaiseExcise Duty(manufacturing par),VAT(sale par),Service Tax(services par),CST(inter-state sale par).
- GSTke aane se yeh saare taxes ek hi mein combine ho gaye aur“tax on tax” (cascading effect)door
ho gaya.
Indirect Tax ka matlab:
- Ye
wo tax hai jiska burden (ultimately) consumer par hi aata hai, par pehle
yeh manufacturer/ service provider/ trader ko government ko dena hota hai,
aur woh apne buyer se recover kar leta hai.
2. Pre-GST Scenario
(Tax-on-Tax ka Effect)
Example:
1.Manufacturer ne goods
banaya (cost = ₹1,00,000). Manufacturer neExcise
Duty @ 18% = ₹18,000charge kiya.
2.Trader ko yeh goods
total₹1,18,000(₹1,00,000 +
₹18,000) mein mile.
3.Ab jab trader aage
consumer ko sell karega, toh wohVATcharge karega (maan lo 18%). Par trader koExcise
Dutyka credit nahi milta tha.
4.Isliye jab trader
apna margin add karke aage VAT lagata tha, toh effectively tax pe bhi tax lag
raha tha. Isse final price consumer ke liye badh jaata tha (cascading effect).
Is
example mein:Trader ke liye goods ki cost hi 1,18,000 ho gayi, kyunki 18,000 ka excise
credit woh claim nahin kar pa raha tha. Toh us par phir se VAT lagta tha. Isse
price badhta jaata hai aur final consumer zyada paise deta tha.
3. Post-GST Scenario (No
Cascading)
GST aane ke baad sab stages
par ek hi tax lagta hai:
- Agar
manufacturer ne trader seGSTcharge kiya (maan lo 18% = ₹18,000), toh trader us₹18,000koInput Tax Credit(ITC) ki tarah treat karta hai.
- Jab
trader aage customer ko bechega, toh jooutput
GSTwoh charge karega, usmein seinput tax (₹18,000)ka credit adjust kar lega.
- Isse
trader ke liye effectively goods ki cost₹1,00,000hi rahegi, aur sirf uskavalue addition
(margin)par tax lagega.
Matlab: Onlyvalue additionpar tax lagta hai, koi “tax pe tax” nahin hota. Finally,poora burdenfinal consumer par hi jaata
hai.
4. Salient Features of GST
1.Supply-based Tax:
Goods ya services kisupplypar
GST lagta hai. (Manufacture ya sale, dono hi supply maani jaati hai.)
2.Value Added par Tax:
Har stage par sirfvalue additionpar tax lagta hai.
3.Destination-based Consumption Tax: Jahan goods consume hote hain, wahan ka state/UT ko tax
milta hai.
4.No Cascading:
“Tax on tax” nahi hota.
5.Harmonised Law:
Sab jagah rates aur procedures mostly similar hain.
5. Types of GST
GST meindual structurehai:
1.CGST(Central GST): Central Govt. ke dwara intra-state supplies par.
2.SGST(State GST): State Govt. ke dwara intra-state supplies par. Agar Union
Territory with legislature hai (jaise Delhi), toh SGST ke badle UT apna UTGST
ya SGST laga sakti hai.
3.UTGST(Union Territory GST): Union Territories (jahan legislature nahi) ke dwara
intra-state supplies par (e.g. Chandigarh, Andaman & Nicobar, etc.).
4.IGST(Integrated GST): Yehinter-statesupplies ya import/export par lagta hai, aur Centre ke paas collect hota hai.
IGST ka rate roughly CGST + SGST ke barabar hota hai.
Intra-statematlab supplier aur place of supplysame stateya same UT mein.
Inter-statematlab supplier aur
place of supplyalag-alag state/UTmein.
6. Input GST (Input Tax) aur
Output GST (Output Tax)
1.Input Tax:
Yeh wo GST hai jo humne khareedte waqt pay kiya (on purchases of goods,
services, fixed assets, etc.). IsseInput GSTkehte hain, jiska credit humein milta hai.
2.Output Tax:
Yeh wo GST hai jo hum apne customer/consumer par charge karte hain (sales par).
Input Tax
Credit (ITC)se hum apnaOutput Taxadjust kar sakte hain. Sirf
difference amount hi government ko pay karna padta hai.
Example:
- Maan
loOutput GST liability=
₹750 hai.
- Humein
already apne inputs parGST paid= ₹500 hai.
- Toh
hum ₹500 ka credit use karke sirf₹250hi deposit karenge.
7. Utilization of Input Tax
Credit
Credit
Type | Pehle
Adjust Karna | Baad
mein Adjust Kar Sakte Hain | Nahin
Kar Sakte |
IGST
Credit | IGST liability | CGSTyaSGST (koi bhi order) | - |
CGST
Credit | CGST liability | IGST | SGST ke liye nahin |
SGST
Credit | SGST liability | IGST | CGST ke liye nahin |
8. Accounting Treatment
(Input GST & Output GST)
(A) Purchases (Intra-State)
Transaction | Journal
Entry |
Goods purchase worth
₹1,00,000 + GST 18% (CGST 9% + SGST 9%) = ₹18,000 (say) | Purchases
A/cDr. (₹1,00,000)Input CGST A/cDr. (₹9,000)Input SGST A/cDr. (₹9,000)
ToCreditors / Bank A/c(₹1,18,000) |
(B) Purchases (Inter-State)
Transaction | Journal
Entry |
Goods purchase worth
₹1,00,000 + IGST @18% = ₹18,000 | Purchases
A/cDr. (₹1,00,000)Input IGST A/cDr. (₹18,000)
ToCreditors / Bank A/c(₹1,18,000) |
(C) Sales (Intra-State)
Transaction | Journal
Entry |
Goods sold worth ₹1,20,000
+ GST 18% (CGST 9% + SGST 9%) = ₹21,600 (say) | Debtors /
Bank A/cDr. (₹1,41,600)
ToSales A/c(₹1,20,000) ToOutput CGST A/c(₹10,800) ToOutput SGST A/c(₹10,800) |
(D) Sales (Inter-State)
Transaction | Journal
Entry |
Goods sold worth ₹1,20,000
+ IGST @ 18% = ₹21,600 | Debtors /
Bank A/cDr. (₹1,41,600)
ToSales A/c(₹1,20,000) ToOutput IGST A/c(₹21,600) |
(E) Payment of GST liability
using Input Tax Credit
Jab hum apna output GST
liability set off karte hain, tohOutput GSTko debit karte hain aurInput GSTko credit karte hain, jis extent tak credit use hota hai.
Transaction | Journal
Entry |
Adjust Output GST
liability ₹x using Input GST credit | Output
CGST A/cDr. (₹...)Output SGST A/cDr. (₹...)Output IGST A/cDr. (₹...) ToInput CGST A/c(₹...)
ToInput SGST A/c(₹...) ToInput IGST A/c(₹...) |
Agar kisi wajah se credit
kam hai, toh balance amount humBank A/cse pay kar dete hain.
9. Reversal of GST
Input GSThamein kab reverse karna pad sakta hai?
- Purchases
return ho gayi
- Goods
drawings ke liye nikaal liye
- Free
samples diye (jahan supply nahi maana gaya)
- Goods
lost ho gaye (fire, theft, etc.)
- Kuch
aisi inputs jinke liye GST credit allowed nahi hai
Output GSTkab reverse hoga?
- Jab
goods humne beche, par baad mein customer ne return kar diye, toh Output
GST bhi reverse ho jaata hai.
10. Ek Chhota-sa Example
(Step-by-Step)
Situation:
- Manufacturerse trader ne ₹1,00,000 ke goods kharide, GST 18% (IGST maana). Total
invoice = ₹1,18,000.
- Trader
ne aageCustomerko ₹1,40,000
+ GST 18% = ₹1,65,200 mein becha (intra-state maana). Toh ab 18% ka
break-up CGST 9% + SGST 9% hoga (₹12,600 + ₹12,600).
Step 1: Purchase entry (inter-state se aaya maal, toh IGST)
Purchases A/c
Dr. 1,00,000
Input IGST A/c
Dr. 18,000
To Creditor/Bank
A/c 1,18,000
Step 2: Sale entry (intra-state sale)
Debtors/Bank A/c
Dr. 1,65,200
To Sales
A/c 1,40,000
To Output CGST
A/c 12,600
To Output SGST
A/c 12,600
Step 3: Liability set-off (man lo ab Output total = ₹25,200,
and hamaare Input IGST = ₹18,000 available):
1.Pehle hum IGST credit
se CGST/SGST set off kar sakte hain (since IGST credit can be utilized for
IGST, then CGST/SGST).
2.Balance agar kuch
bachta hai to bank se pay karenge.
Output CGST A/c Dr.
12,600
Output SGST A/c Dr.
12,600
To Input IGST
A/c 18,000
To Bank
A/c 7,200 (Difference if any)
- Maine
assume kiya ki IGST credit se hum 18,000 use kar sake. Baaki 7,200 pay
karna pada (agar required ho).
Is tarah se hum books of
accounts mein GST ko dikhate hain.
Key Takeaways
1.GSTeliminates cascading effect.
2.Input Tax Creditse
cost reduce hoti hai.
3.Alag-alagheadsof GST ke liye alag-alagInput A/caurOutput A/cmaintain karte hain.
4.Destination-basedconsumption tax hai, isliye jahan consume hota hai wahan ke state ko tax milta
hai.
Umeed hai, yeh Hinglish
explanation aur tables ke saath aapko GST ke accounting treatment ko samajhne
mein madad karega!
