Billing process

This query is : Resolved

Sravan Patnaik (Querist)
Follow

20 March 2012 Dear All,

I have few doubts in billing process. One of my senior officer says, We have to give discount on the amount after charging VAT. But If we give give discount after charging vat then it will be like we have given discount on vat also.

And if it is the correct process then, in vat returns we have to show the vat amount on which bill has been raised.

Can anyone help me out in solving this?

Thanks in advance.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
Follow

22 March 2012 Mr Sravan Patnaik,
VAT is to be charged on the net bill amount i.e. after all the discounts.Otherwise you will be collecting excess tax which becomes an offence....MJK

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Angadi & Co

SHUBHANGI GOEL

SUMAN SAHA

AJAY Kumar Agrawal

Pawan Haryani

Subscribe Now

Billing process

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

Accountant

CA Final

GST CONSULTANCY

Article Assistant

GST CONSULTANT