Due to the recent ban on plastic bags, I now purchase cloth bags at Rs.35 each to give to customers.
However, as you know, no customer will pay such a hefty price.
So, I just want to know if i could sell the bags at below cost.
Also , would I have to mention the HSN code in the invoice.
And would i have to show both Cost minus discount in the invoice
Thanks.
4 Replies
Teena Singhal
(CA)
(84 Points)
Replied 04 July 2018
U need to mention HSN code if turnover exceeds 1.5 cr. (Turnover = total turnover less discount )
vikram kerekar
(1244 Points)
Replied 04 July 2018
i am talking about this point -Due to the recent ban on plastic bags, I now purchase cloth bags at Rs.35 each to give to customers.
However, as you know, no customer will pay such a hefty price.
So, I just want to know if i could sell the bags at below cost.
Also , would I have to mention the HSN code in the invoice.
However, as you know, no customer will pay such a hefty price.
So, I just want to know if i could sell the bags at below cost.
Also , would I have to mention the HSN code in the invoice.
R. CA
(121 Points)
Replied 04 July 2018
yes u can sell below cost and for hsn code u need to calculate ur turnover.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 04 July 2018
Yes ,.. you have to mention HSN code &. can sell below cost
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