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Gst taxable value & sales figure

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Neeraj

Accountant

33 Points Posted on 02 November 2017

Valuation of taxable supply
Particulars	Amount ( In Rs. )
Value of Goods or services	1,00,000
Loading and Unloading charges	15,000
Shipping Charges	5,000
Gross Value	1,20,000
Less: Trade Discount	-2,000
Taxable Value	1,18,000

IF Taxable value is 1,18000 how these entries will reflect in Trading A/c. Sales figure , Expenses included in invoice (P&L) is necessary to match Sales Figures (Trading) with gst Taxable value?

Replies (1)

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 02 November 2017

Originally posted by : Neeraj
	Valuation of taxable supply Particulars Amount ( In Rs. ) Value of Goods or services - SALES IS SALE ACCOUNT - SERVICES IS DIRECT INCOME 1,00,000 Loading and Unloading charges - INDIRECT EXPENSES 15,000 Shipping Charges - INDIRECT EXPENSES 5,000 Gross Value 1,20,000 Less: Trade Discount - INDIRECT EXPENSES -2,000 Taxable Value 1,18,000 IF Taxable value is 1,18000 how these entries will reflect in Trading A/c. Sales figure , Expenses included in invoice (P&L) is necessary to match Sales Figures (Trading) with gst Taxable value?