| 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?
| Originally posted by : Neeraj | ||
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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? |
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CAclubindia
