if i purchase apple phone rs 80000 in exchange of my existing mobile worth rs 10000.
what is journal entry in tally
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exchange in gst
Replies (4)
Iphone Dr. 80000
To Old phone 10000
To Cash/Bank 70000
Old phone's BV has also been considered as 10000.
gst levied on 70000 or 80000??
Gst leived depends upon the bill raised by seller.
GST levied on full value of 80000/-
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