If the selling price is lesser that cost price due to Credit notes. Credit notes are issued without GST component by the seller
Query (Issue) Started By: – chetan jhaver Dated:- 9-10-2017 Last Reply Date:- 27-8-2018 Goods and Services Tax – GST
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GST
under below scenario . what is the right way of being tax compliant.
PURCHASE PRICE AS PER INVOICE
basic
1260
input gst ( cgst + sgst )
352.8
(a)
TOTAL PRICE WITH GST
1613
(b)
CREDIT NOTES PERTAINING TO PURCHASE
cd @ 3%
48.39
quarterly discount @ rs. 20 per fan
20
quarterly growth discount ( variable )
18.9
annual growth discount ( variable )
18.9
free fan scheme . on 48 fans 1 fan free
33
total discounts on product
139.19
(c)
Actual purchase cost
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