18 - Purchase Gst Entrypdf ❲Validated ●❳

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

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 18 - Purchase GST Entrypdf

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