Menu
GST on Discount Received
Sir,I received a Discount recevied/ credit note from A party X a sum of rs..Tax value Rs.1000 cgst 25 sgst 25 1050. How to pass entry in books of accounts.? which coloumn to show in GSTR 3b?..
Replies (1)
You are required to reduce it from your ITC in GSTR 3B in ITC column.
Entry in books of Account:
Party A/c Dr.............1050
To Discount on Purchase A/c .1000
To CGST input tax A/c.............25
To SGST input tax A/c.............25
Entry in books of Account:
Party A/c Dr.............1050
To Discount on Purchase A/c .1000
To CGST input tax A/c.............25
To SGST input tax A/c.............25
Recent Threads
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
Related Threads
CAclubindia
