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Discount received

rishikesh N (198 Points)

20 June 2018

can i enter discount received in debit note in gst tally...or please give suggestions how to entery in tally.

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (127962 Points)
Replied 20 June 2018

Are you received the discount in the purchased invoice? or separate document?

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rishikesh N (198 Points)
Replied 20 June 2018

I received credit note..sir..

RAJA P M ("Do the Right Thing...!!!") (127962 Points)
Replied 20 June 2018

If it's taxable discount then you can enter in "Debit Note"...

You created a Ledger as "Discount Received - under indirect Income"

Dr. ABC Ltd A/c - Rs. 105
Cr. Discount Received @ 5% - Rs. 100
Cr. CGST @ 2.5% - Rs. 2.50
Cr. SGST @ 2.5% - Rs. 2.50....

If IGST then pass the entry as per IGST...