Tax to be charged under GST
Name | Under | Remarks |
GST | | Goods and Services Tax |
Supply within the State | GST | Local Supply |
Supply beyond the State | GST | Interstate Supply |
CGST + SGST | Supply within the State | Central GST + State GST |
CGST + UTGST | Supply within the State | Central GST + Union Territory GST |
IGST | Supply beyond the State | Integrated GST |
For Local Supply in Karnataka with GST rate of 12%, make an invoice as follows:-
Taxable Value = 1000
CGST @ 6% = 60
KGST @ 6% = 60
Total Value = 1120
For Interstate Supply from Karnataka with GST rate of 12%, make an invoice as follows:-
Taxable Value = 1000
IGST @ 12% = 120
Total Value = 1120
GST - 5% Tax Rate - MRP - Discount
Description | Amount | Remarks |
M.R.P Value | 500 | |
Discount @ 10% | 50 | |
Net Value | 450 | |
Special Discount @ 4.76% | 22 | (Always Round Off to Even Value) |
Taxable Value | 428 | |
CGST @ 2.5% | 11 | |
KGST @ 2.5% | 11 | |
Grand Total | 450 | |
GST - 12% Tax Rate - MRP - Discount
Description | Amount | Remarks |
M.R.P Value | 3000 | |
Discount @ 10% | 300 | |
Net Value | 2700 | |
Special Discount @ 10.71% | 290 | (Always Round Off to Even Value) |
Taxable Value | 2410 | |
CGST @ 6% | 145 | |
KGST @ 6% | 145 | |
Grand Total | 2700 | |
GST Accounting Ledgers
Sales @ | 0% | 5% | 12% | 18% | 28% | 5 Ledgers |
CGST @ | | 2.5% | 6% | 9% | 14% | 4 Ledgers |
KGST @ | | 2.5% | 6% | 9% | 14% | 4 Ledgers |
IGST @ | | 2.5% | 6% | 9% | 14% | 4 Ledgers |
| | | | | Total | 17 Ledgers |
| | | | | | |
Purchases @ | 0% | 5% | 12% | 18% | 28% | 5 Ledgers |
CGST @ | | 0.0% | 0% | 0% | 0% | 4 Ledgers |
KGST @ | | 2.5% | 6% | 9% | 14% | 4 Ledgers |
IGST @ | | 2.5% | 6% | 9% | 14% | 4 Ledgers |
| | | | | Total | 17 Ledgers |
| | | | | | |
Total GST | | | | | Total | 34 Ledgers |