Скачать или смотреть 🔍 Accounting Quiz Time | Subsidiary Books | Purchase Book 🧾📘

🔍 Accounts + GST Quiz – Perfect for Class 11, 12, B.Com, and CA Foundation!

📘 Explanation:
Let’s break it down step-by-step:
List Price of Goods = ₹10,000
Trade Discount = 10% of ₹10,000 = ₹1,000
Net Purchase Price (after trade discount) = ₹10,000 − ₹1,000 = ₹9,000
GST @5% = Not included in the Purchase Book — it is recorded separately in GST Input Ledger.

Payment (Cash or Credit) = Does not affect purchase book value.

📌 Important Note:
The Purchase Book records only the net amount of goods purchased (after trade discount), not considering GST and payment type details.

📘 Why?
The Purchase Book includes the net amount after trade discount, i.e., ₹10,000 – 10% = ₹9,000
GST is recorded separately in the Input CGST/SGST column of purchase book.
Cash paid or credit portion doesn't change the amount to be recorded in the Purchase Book

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