hi, the right way of giving a discount is on the taxable value and after that GST charged.
But we were given a discount on the total sale value. I.e sale value 1000
GST. + 120
Discount. - 200
is this right way.
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Discount on sale
Replies (4)
Yes. It depends if discount is on wholesale or retail price. Wholesale means, purchasing directly from a dealer like raw materials. If wall things have a tax base then, the above procedure you mentioned is correct.
It's finished good
Discount of 200 over 1120
Yes...
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