Dear sir
We have purchase cloth from delhi and the received the bill of Gst as follows
Laptop = Rs. 25000
IGST. 5% = Rs. 1250
Total =. Rs. 26250
Less discount (8%) =Rs.2100
NET payable. =Rs. 24150
This is correct bill according to Gst rules
or not & if yes then what is the journal entry for this
Please
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Regarding purchase invoice
Replies (5)
No this is not a true invoice. If they are giving you discount then they have to give discount in taxable value that is 25000/-
then after they have to add GST Tax.
then after they have to add GST Tax.
If u purchse cloths ,how supplier issue invoice of laptop..
By mistake write laptop, actually purchase cloth
@ Mr Anand.,
Are the same business or any other business...?
If any other then give details and usage of cloths...!
Are the same business or any other business...?
If any other then give details and usage of cloths...!
As per Section 15(3) of CGST Act , The discount mention on the Invoice shall be reduced from Supply before charging GST.
So the above invoice is not correct ....but....But the Department have no issue as they are getting more tax .
Pass the Entry :
Purchase (cloth ) A/C Dr 25000/-
IGST input A/c Dr 1250/-
To Supplier A/c Cr 24150/-
To Discount Reced A/c Cr .2100/-
So the above invoice is not correct ....but....But the Department have no issue as they are getting more tax .
Pass the Entry :
Purchase (cloth ) A/C Dr 25000/-
IGST input A/c Dr 1250/-
To Supplier A/c Cr 24150/-
To Discount Reced A/c Cr .2100/-
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