Lab 24 • Accounting & Indirect Tax (GST)
Bookkeeping & Tax Reconciliation Lab (10% Educational Model)
Verify double-entry balance (Debit = Credit). Reconcile purchase register against Form 2B, flag invoice mismatch exceptions, and block ineligible Input Tax Credit (ITC).
Total Debits
$1,100
Bank / Assets / Expenses
Total Credits
$1,100
Revenues / Tax Liabilities
Journal Status
BALANCED (0 Var)
Debit equals Credit
Tax Rule Base (10%)
$100.00
10% tax on $1,000 base
Purchase Register vs Government 2B Reconciliation
| Invoice # | Supplier Name | Internal Books | Portal 2B Rec | 10% Tax | Eligible ITC | Action Decision |
|---|---|---|---|---|---|---|
| inv_201 | Apex Office Supplies | $1100 | $1100 | $100 | Eligible | |
| inv_202 | Cloud Host International | $2200 | $1980 | $200 | Eligible | |
| inv_203 | Executive Luxury Resort | $880 | $880 | $80 | Blocked |