This represents the base value of the goods (tax-exclusive).
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
You must have the supplier’s valid GST number to claim the Input Tax Credit (ITC). This represents the base value of the goods (tax-exclusive)
When you buy goods or services worth at an 18% GST rate , your journal entry will look like this: Account Head Purchase A/c Input CGST (9%) Input SGST (9%) To Creditor / Bank A/c $11,800 Key Components 18 - Purchase GST Entrypdf
ITC must be claimed within the statutory time limits.
Ensure the correct code is mentioned to justify the 18% rate.
