Accounting of Purchase & Purchase Return with GST (ITC Concept) | GST Basics Part 2 | Day 32

Accounting of Purchase & Purchase Return with GST (ITC Concept) | GST Basics Part 2 | Day 32 #cadeveshthakur #gstbasics #accounting #cbse #class11 #class11accounting @cadeveshthakur @classesbyCADT

Day 32 of the 50 Days Accounting Challenge focuses on one of the most important GST accounting concepts — Purchase and Purchase Return with Input GST (ITC).

In this video, we don’t just pass journal entries.
We understand the complete linkage between:

✔ Purchase
✔ Input CGST / SGST / IGST
✔ ITC (Input Tax Credit)
✔ Cash & Creditor
✔ Purchase Return
✔ Impact on P&L and Balance Sheet

You will clearly understand:

• Why Input GST is an Asset and not an Expense
• How Purchase directly impacts ITC
• Why ITC reduces when Purchase Return happens
• Difference between Intra-State and Inter-State Purchase entries
• How part cash and part credit purchases are recorded
• How Purchase Return affects Profit, Liability and ITC

If you are a CA student, B.Com student, GST beginner, or preparing for competitive exams — this video will build your foundation strong.

Remember:

Purchase → Expense + ITC Asset
Purchase Return → Expense Reduce + ITC Reverse

Once you understand the structure, debit-credit becomes logical — not mechanical.

📌 This is GST Basics Part 2
📌 Series: 50 Days Accounting Challenge
📌 Day: 32

Watch till the end to understand the complete interconnected accounting flow.

purchase accounting with gst
input gst journal entry
purchase return entry with gst
itc concept in accounting
gst basics for beginners
intra state purchase entry
inter state purchase entry
purchase return journal entry
accounting of gst transactions
ca foundation accounting gst

purchase accounting with gst, purchase entry with gst, purchase return entry, input gst accounting, itc concept explained, input tax credit journal entry, intra state purchase entry, inter state purchase entry, gst basics for beginners, accounting of gst transactions, purchase return with gst entry, creditor and cash entry, debit credit logic, p&l and balance sheet impact, gst journal entries, 50 days accounting challenge, gst basics part 2, ca students accounting, cadeveshthakur

Видео Accounting of Purchase & Purchase Return with GST (ITC Concept) | GST Basics Part 2 | Day 32 канала Classes by CADT