how to issue debit note for cash discount?
value of supply: 1525
gst @ 18%:. 275
total bill. :. 1800
will the cash discount of 5% will be on 1800 or 1525 ?
and how will the debit note be issued?
Menu
cash discount
Replies (3)
Cash discount will be 5% of taxable value of supply, i.e, 1525*5% = INR 76.25
GST amount to be reversed in this case would be 76.25 x 18% = 13.725
will the debit note include GST
well, in actual practise, debit notes are issued in case of trade discounts and not cash discounts.
Recent Threads
- Discuss and Download CA Inter Question Paper Janua
- Discuss and Download CA Final Question Paper Janua
- Accounting Entry for samples received from princip
- Many of my clients who are bank employees received
- Missed filing for AY 2022-23. TDS refund possible
- Form 26QB: Assessment Year Based on Payment Date o
- Revision of Tax Audit
- IT Return 2023-24
- LUT for Companies Using EVC and Not DSC?
- UDIN Generation 44ADA
Related Threads
CAclubindia
