Trade discount

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2017 Dear sir

Trade Discount facility in GST Sales invoice. sir

Goods Value Rs.10000.00
Less: Trade Discount Rs. 1000.00
------------------
Gross Rs. 9000.00
CGST 10% Rs. 900.00
SGST 18% Rs. 1620.00
------------------
Total Invoice Value Rs.11520.00
============
it is wrong or Correct. if it is wrong please let me know the correct format sir.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

11 June 2017 It is wrong If rate is 28% then CGST is 14% & SGST is 14%

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2017 Mam, Trade Discount is correct.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

11 June 2017 Yes it is correct.

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2017 Mam, Goods Value Rs.10000.00 Less: Trade Discount Rs. 1000.00 Gross Rs. 9000.00 CGST 14% Rs. 1260.00 SGST 14% Rs.1260.00 Total Invoice Value Rs.11520/- it is correct Mam.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

11 June 2017 Yes it is correct.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2017 Mam, u are great, thanks a lot, once again thanks on time help.

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2017 Dear Sir/Madam IGST Purchase Rs.10000/- and + Input Rs.1800/- = Purchase Value Rs.11800/- . sold the goods(Local) Rs.12000 + SGST Rs.1080/- CGST+ Rs.1080/- = Inv.Amt Rs.14160/- . Can i ITC adjust the GST Rs.1800/- for this Transaction. How i Paid the Tax, CGST Payable Tax ? SGST Payable Tax ? How We take the ITC for IGST Rs.1800/-

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