14 February 2023
Dear sir, A has raised a bill to B as follows: Profession charge- 100000 Add GST @18% - 18000 Total Payable- 118000 Less Discount -10000 Net payable- 108000
In the Books of B - what will be treatment of 10000 as discount ?
14 February 2023
It should be reduced from expenses. Alternatively it can be shown as other income. But better treatment is to reduce it from related expenses.
CAclubindia
