Menu
Discount
we are in textile business we usually give 5 %discount what about gst on discount , can we deduct discount first and then add gst please guide
Replies (9)
yes you can
yes gst is aaplicable after deducting discount
GST is charged on transaction value i. e value - discount = net value
yes u can deduct it before charging gst.
as retail outlet in rural area customer are not ready to give additional gst on price ,so can we deduct exact amount of gst on selling price as discount and than add gst accordingly
ie gst on textile is 5%, so on selling price if we give discount 4.76 % and than add 5 %we get same price please guide
ie gst on textile is 5%, so on selling price if we give discount 4.76 % and than add 5 %we get same price please guide
yes , you may follow it
In My view.,
You ll be deduct after tax calculated....
ex:
Ass Val : 10000
Tax : 500
Total : Rs. 10,500
Discount 10% - 1000 (on basic value)
Grand Total is Rs. 9500...
You can give discount for your material value not tax value....
You ll be deduct after tax calculated....
ex:
Ass Val : 10000
Tax : 500
Total : Rs. 10,500
Discount 10% - 1000 (on basic value)
Grand Total is Rs. 9500...
You can give discount for your material value not tax value....
Recent Topics :
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
- Gst refund
Related Topics :
CAclubindia
