Arihant Chordia of age 35 years of Jodhpur

working part time as an accountant’s post in

many small firms. As working for hours and even
overtime, he wasn’t able to spend some free
time with his family and friends. Even he was
not able to fulfill up the needs of his family. He
had repeatedly fought fights with his family
members and was fully frustrated as he was
hardly able to fulfill up their wishes and even
not spending time with them. He was merely
meeting up the highly fancied expenses of his
own and his family. After some days of regular
thinking, talking with close confidant and with
wife and parents and counselling with Councilor.
He came to decision that he should commence
up a business with a motive of higher and higher
profits.
On November 1,2019 he commenced a business
of Handicraft. He also asked advices from his
old friend Aadinath Dhariwal, who was in this
line from years about labors, leasing land and
loans from Development banks. He took loan
from bank of amount $24,00,000 at an interest
of 8% per annum, paying interest from 2months
and keeping an ancestral property as collateral
against safety and with the amount started up
business.
1…On 9th November 2019 he invested an amount
of 24,00,000 in the business as capital.
2.. He bought woods of worth $1,75,000 from
Mr. Rishabh Kothari owner of M/s Brahmadutt
and Sons of Jaipur, paid half only and half as
credit paid CGST&SGST @ 2.5% each.
3.. He bought a Machinery and various
equipment’s of price $5,00,000 from M/s
Sambhaw and Bros. and paid fully in cash and
received trade discount @10% and cash
discount @5%and also paid CGST &SGST @6%
each.
4… on 11th nov. received an order from Aadinath

Dhariwal of $60,000. He also received an

advance $10,000 and rest to be received after

order.

5.. On 13th paid wages to labor $11,000.

6.. on 14 sold babuls to Abhinandan Jain of

$38000 and sesamum of $12000 charged CGST
& SGST@ 6% each.
7…on 20th sold goods worth 60,000 and
charged CGST &SGST @6% each to Aadinath
Dhariwal received the left payment allowed 5%
td.
8.. withdrawn amount $11,500 from bank and
paid for the household expenses of Arihant
9.. on 21st received 1/2 of ¼ of goods sold to
Aadinath Dhariwal was returned by him as
goods being defective.
10.. on 22nd paid rent to 70,000 of the lease
lands and 7,000 as proprietors’ children fees by
cheque.
11.. On 25th goods given to various firms as
samples of goods of worth 5,000 charged CGST
&SGST @6% each.
12.. On 25th received goods from Aadinath
Dhariwal were returned back to M/s
Brahmadutt and Sons.
13… on 26th bought goods from Suvidhi Saand of
worth $3,00,000 of Jalgaon, Maharashtra and
was being charged IGST @12% each on credit.
14.. on 26th sold the goods directly from Suvidhi
Saand to Paarshvanath Lodha of Kolhapur
@profit of 10% allowed TD & CD @2% each and
charged IGST @12% each on instant cash.
15.. on 30th goods withdrawn for personal use.

16.. Dec 2,19 goods sold to 20,000 to

Vardhaman Lalvani of Ajmer charged CGST and
SGST @6% each.
17.. on DEC 5th Telephone expenses of
November totaling $2460.
18.. on 11th DEC miscellaneous expenses totaled
$ 4320.
19.. on 12th paid the amount due to Suvidhi
Saand.
20.. On DEC 21st goods purchased from
Chandan Gandhar of Baruch of 4,60,000 paid
CGST and SGST @6% each. Paid ¾ of the
amount.
21.. on DEC 24th electricity bill of month of
November of $10,150 not been paid yet.
22.. on DEC 27th goods sold to Neminath Mehta
of Jodhpur of 2,00,000 charged CGST and
SGST @6% each.
23.. on Dec 29, goods sold to Neminath Mehta
was returned by him of amount 12,400.
24.. on jan1, paid Insurance premium $24,000
for the rest of year.
25.. Salary and Wages paid 12,000, but due
$21,000.
26.. Arihant drew for personal use $12000.
27.. Carriage o/w $500.
28.. payment made to Chandan Gandhar of
Baruch value 4,60,000@ 10%discount.
29.. Bought furniture and tables for 9000.
30.. Goods lost by fire $5000.