16 February 2018
Dear Sir, We are biscuit manufacturer . We to survive in a market give free . For example , 1 Cartoon Biscuit free with every 15 cartoon.Rate of 1 cartoon is Rs.100/-. Currently we are billing in below manner:- (15*100+1*0)=1500 taxable Value , Gst 1500*18%=270 , Total bill value =1770(1500+270) Note that presently we are reversing ITC in respect of free sale. We Wish to bill in below manner :- 15*100=1500 01*100= 100 (-)Discount=-100 Taxable Val=1500 GST@18%= 270 Bill Value = 1770
CAclubindia
