Entry of Discount
This query is : Resolved
14 February 2023
Dear sir,
A has raised a bill to B as follows:
Profession charge- 100000
Add GST @18% - 18000
Total Payable- 118000
Less Discount -10000
Net payable- 108000
In the Books of B - what will be treatment of 10000 as discount ?
Please guide me?
Regards,
Motilal Verma
A has raised a bill to B as follows:
Profession charge- 100000
Add GST @18% - 18000
Total Payable- 118000
Less Discount -10000
Net payable- 108000
In the Books of B - what will be treatment of 10000 as discount ?
Please guide me?
Regards,
Motilal Verma
14 February 2023
It should be reduced from expenses. Alternatively it can be shown as other income. But better treatment is to reduce it from related expenses.
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15 February 2023
You can deducted the less discount from the professional charges and GST will be applicable.
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