company billed me cigarette at following particular
HSN CODE 2402 20 90
taxable value 1168.2
CGST 163.56
sGST 163.66
COMP CESS 420.59
ADD COMP CESS 835
Total 2750
Now I want to add my profits of Rs. 250
How I issue Bill to Customer please guid me
And cmpensatio CESS 420 and additional COMP CESS 835 is eligible for ITC
Please help me
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billing of cigarette
Replies (2)
You will take credit of all the taxes/cess suffered by you on purchase of cigarettes from the company. Your cost therefore is Rs. 1168.2 only. Pl add your profit of Rs. 250/- to this amount (1168+250=A). This will be your value for computing CGST(B) and SGST (C) after applying the appropriate rate of GST. Add the amount of B and C to A and compute the amount of Compensation cess (D) and Addl cess (E) on the total of A,B and C. The total of A,B,C,D and F is the total selling price to be invoiced.
Tax invoice
A. Value = 1168.20 + 250
B. CGST = A × CGST Rate %
C. SGST = A x SGST Rate %
D. Cess = if any
E. Total Bill = A+B+C+D
A. Value = 1168.20 + 250
B. CGST = A × CGST Rate %
C. SGST = A x SGST Rate %
D. Cess = if any
E. Total Bill = A+B+C+D
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