Dear Seniors
Please clarify the treatment of discount & Insurance charges in purchase bill under GST
Thanks
DISCOUNT if levied to be deducted from basic amount and corresponding gst also to be deducted.
same is with insurance charges, if insurance charges are levied in purchase bill, the gst of highest denomination, ei if there are two gst slabs levied for example 5 a^ 18, then 18% will be levied.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
