This transaction belongs to telecom distribution where telecom company take advance from distributors and after make payment of distributors telecom company send evd balance to distributor registered mobile and send invoice by mail.
For example when a distributor make payment of Rs 100000 then telecom company send 105000 as Evd balance on distributor mobile
the telecom company give invoice for this transaction rs 84745.76 and cgst 9% rs 7627.12 and sgst 7627.12
And now I have to sale to retailer
for example
I sold to rs 1000 to retailer (a unregister retailer) on cash
for this I have to send 1030 evd balance on retailer registered mobile no and take rs 1000
for this sale transaction how can I raised invoice with gst rate @ 18%
Bill raised by Distributor to Retailers as follows:
Since the distributor collects ₹ 1000 cash for recharge value of 1030.
So, Bill will be raise for ₹ 1000. Calculation on reverse basis i.e. 1000*18/118, ₹ 152.54 as tax and ₹ 847.46 as taxable value. and total invoce value will be ₹ 1000.
Hope all other members and you will satisfy with the answer.
CAclubindia
