Discount on invoice
This query is : Resolved
ANIMESH PANDEY
(Querist)
16 February 2018
Dear Sir,
We are biscuit manufacturer . We to survive in a market give free . For example , 1 Cartoon Biscuit free with every 15 cartoon.Rate of 1 cartoon is Rs.100/-.
Currently we are billing in below manner:-
(15*100+1*0)=1500 taxable Value , Gst 1500*18%=270 , Total bill value =1770(1500+270)
Note that presently we are reversing ITC in respect of free sale.
We Wish to bill in below manner :-
15*100=1500
01*100= 100
(-)Discount=-100
Taxable Val=1500
GST@18%= 270
Bill Value = 1770
We are biscuit manufacturer . We to survive in a market give free . For example , 1 Cartoon Biscuit free with every 15 cartoon.Rate of 1 cartoon is Rs.100/-.
Currently we are billing in below manner:-
(15*100+1*0)=1500 taxable Value , Gst 1500*18%=270 , Total bill value =1770(1500+270)
Note that presently we are reversing ITC in respect of free sale.
We Wish to bill in below manner :-
15*100=1500
01*100= 100
(-)Discount=-100
Taxable Val=1500
GST@18%= 270
Bill Value = 1770
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