we sell product online , if any buyer buy that product which is of rs.5000/- we give him a coupon free worth rs 1000/- which can be cash against buying only books ( exempted in GST).
note : the books also given by us.
Now the query is whether
1. I hv raise bill 5000/- + GST
2. 5000+GST less discount 1000/-
3. 5000+GST one bill,
1000/- for books 2nd bill
& CNT for 1000/- against bill 5000+gst
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Replies (12)
As the books coupon will be redeemed against exempted supply you cannot deduct it from taxable value. You should raise the invoice amounting 5000 Gst. And you can give 1000 as a credit note.
And when the CN redeem it will be against exempt supply so then no taxability comes.
sir
plz clarify
I raise the bill 5000/- + GST for which I got the payment also, but when the coupon is redeemed by customer, I have to raise the bill for books, but the payment for books is not reced by me.
now should I raise the bill for books , & cnt agt. book sold, now what about the inventory of books , once STock out on raise of bill & stock in as cnt is raise AGT. books sale.
plz clarify
I raise the bill 5000/- + GST for which I got the payment also, but when the coupon is redeemed by customer, I have to raise the bill for books, but the payment for books is not reced by me.
now should I raise the bill for books , & cnt agt. book sold, now what about the inventory of books , once STock out on raise of bill & stock in as cnt is raise AGT. books sale.
You have to raise the bill against books. However you should go with redemption of credit note in case of payment. And the balance amount recd by cash .
And plz male it clear about the stock wala part. I cant getting you
sir
we giving two type of supplies
1. 5000/- + GST , for which we reced the payment.
2. To raise a bill for books, as soon as the coupon redeemed by customer, but this sale is without any consideration, means it's free (books worth is rs 1000/- or u can say coupon worth 1000/-)
so now query is if we hv issue cnt agt. bill for books or we can make a bill value to zero by showing discount 1000/- therein
we giving two type of supplies
1. 5000/- + GST , for which we reced the payment.
2. To raise a bill for books, as soon as the coupon redeemed by customer, but this sale is without any consideration, means it's free (books worth is rs 1000/- or u can say coupon worth 1000/-)
so now query is if we hv issue cnt agt. bill for books or we can make a bill value to zero by showing discount 1000/- therein
Customer will redeem credit note against the bill value of 1000 (books) so it is as good as payment for such invoice. Then how the stock become Nil. Invoice should be raised of 1000 , payment of
Such invoice will be settled against the credit note which you have given before
ok sir, got it
thanku u very much
thanku u very much
sir
plz correct me if IAM wrong , the CNT should be of discount,( if we raise cnt on goods return then my stock of books will not match)
plz correct me if IAM wrong , the CNT should be of discount,( if we raise cnt on goods return then my stock of books will not match)
sir
plz correct me if IAM wrong , the CNT should be of discount,( if we raise cnt on goods return then my stock of books will not match)
plz correct me if IAM wrong , the CNT should be of discount,( if we raise cnt on goods return then my stock of books will not match)
Yes corrct! CN should be of Discount! And mind well it should not include tax amount as it can only be redeemed against specified exempted product.
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