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.
Menu
Discount on sale
Replies (4)
Quick Summary
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...
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
