How to apply GST to Purchase discount
Hi,
We receive materials from supplier with cash discount.
Example
Item Value Rs.100000
GST 5% Rs. 5000
Discount .5% on Item cost Rs. 500
We pay to supplier Rs.104500 (100000+5000-500)
Here GST is calculated before discount, we need to calculate GST After discount. How to calculate the GST after deduct the discount in Purchase invoice.
Thanks
Mohan