Entry of Discount

This query is : Resolved

motilal (Querist)
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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

CA Altamush Zafar

CA Altamush Zafar (Expert)
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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.

Message likes : 1 times

Arun Kumar Singh

Arun Kumar Singh (Expert)
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15 February 2023 You can deducted the less discount from the professional charges and GST will be applicable.

Message likes : 1 times

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