Discount on purchase
RAJEEV B (articleship) (21 Points)
27 February 2017
kiran
(Student)
(98 Points)
Replied 28 February 2017
Accounting entry:
Purchases A/c Dr. xxxxxx
To Discount Received A/c xxx
To Bank/Cash A/c xxxxxx
For how to pass entries in tally follow what Ms. Jayasri Kolluru has mentioned.
Krishnareddy 16071987
(4 Points)
Replied 16 March 2022
discount received on purchase under group is what?
Krishnareddy 16071987
(4 Points)
Replied 16 March 2022
gain foreign exchange fluctuation on purchase under group what?
Nitin Agrawal
(2 Points)
Replied 03 June 2022
DISCOUNT ON PURCHASE IS AN INDIRECT INCOME AND IT IS UNDER INDIRECT INCOME HEAD IN TALLY..
CA Puja Sharma
(Chartered Accountant)
(4984 Points)
Replied 03 June 2022
You can adjust the discount amount with the purchase expenses via journal.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)