In this blog I will tell you how to do accounting of petrol pump and filing the returns in the GST regime. Till today petrol and diesel are still under old tax i.e. VAT. However rather than this other things like lubricants, motor vehicle parts , servicing, washing are under GST. This creates a lot of confusion and chaos among the concerned people. To clear the doubts read this blog till the end. ACCOUNTING You have to maintain separate heads for VAT and GST. Do the entries of petrol and diesel under VAT and of lubricants, repairing, servicing, other things under GST. Petrol and Diesel - Maintain a daily stock register for the sale of petrol and diesel separately. Write the opening and closing reading of meter of all pumps and calculate overall sales on daily basis. Also maintain a book for writing the daily oil prices. Multiply the sales of each day (which will be in litres) with the daily rate getting the total amount of sales in the day. You have to do only single entry for...