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
Got 1 Reply
GST
under below scenario . what is the right way of being tax compliant.
\nPURCHASE PRICE AS PER INVOICE
\nbasic
\n1260
\ninput gst ( cgst + sgst )
\n352.8
\n(a)
\nTOTAL PRICE WITH GST
\n1613
\n(b)
\nCREDIT NOTES PERTAINING TO PURCHASE
\ncd @ 3%
\n48.39
\nquarterly discount @ rs. 20 per fan
\n20
\nquarterly growth discount ( variable )
\n18.9
\nannual growth discount ( variable )
\n18.9
\nfree fan scheme . on 48 fans 1 fan free
\n33
\ntotal discounts on product
\n139.19
\n(c)
\nActual purchase cost <\/p>\n
= = = = = = = =<\/p>\n
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