Sec 140(3) calculation
This query is : Open
03 July 2017
How to calculate the selling price of goods by giving the effect of sec 140(3) i.e. 40/60 % of gst.
04 July 2017
40% or 60% calculated on Purchase Price.
04 July 2017
Check GST Presentation uploaded by me example is given in it.
04 July 2017
Link is given below
GST Presentation https://www.caclubindia.com/share_files/details.asp?mod_id=73459
04 July 2017
Link is given below
GST Presentation https://www.caclubindia.com/share_files/details.asp?mod_id=73459
05 July 2017
In sec 140(3) it is written that the said taxable person shall pass on the benefits of such credit by way of reduced prices to the recipient. Whether the supplier has to reduced such credit from the selling price of the product
05 July 2017
Not compulsory.
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