hi i have today i small doubt.
the question is
Say a bill in respect of Inter state purchase:
Gross value 1,00,000
cas h discount 10,000
Net amount 90,000
CST charged is 2% - 1,800
Total Bill Value - 91,800
Note: cash discount is subject to payment made within 15 days of the bill
The accountng entry is made for Rs.91,800
in case if the payment was not made within 15 days, the cash discount will gets reversed meaning it will be charged. But what about the CST whether the supplier should collect or not.
awaiting members to share/solve.
CAclubindia
