DINESH GODHWANI (1 Points)
01 May 2021HOW I PURCHASE 100% DISCOUNTED BILL MEANS ZERO AMOUNT BILL
EXAMPLE 1*100=100+GST 18%
LIKE THE TOTAL AMOUNT BILL IS 118 AND THEN DISCOUNT 118
BILL AMOUNT 118- DISCONT 118= ZERO
HOW DO I PURCHASE AND SALE THIS TYPE OF INVOICES
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 01 May 2021
First you need to determine whether the discount is being given before computing GST or after computing GST. This will depend on the agreements with the parties.
Treatment in accounts will done accordingly.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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