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GST on Discount Received
Sir,I received a Discount recevied/ credit note from A party X a sum of rs..Tax value Rs.1000 cgst 25 sgst 25 1050. How to pass entry in books of accounts.? which coloumn to show in GSTR 3b?..
Replies (1)
You are required to reduce it from your ITC in GSTR 3B in ITC column.
Entry in books of Account:
Party A/c Dr.............1050
To Discount on Purchase A/c .1000
To CGST input tax A/c.............25
To SGST input tax A/c.............25
Entry in books of Account:
Party A/c Dr.............1050
To Discount on Purchase A/c .1000
To CGST input tax A/c.............25
To SGST input tax A/c.............25
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