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Financials for India - EBS (MOSC)

How to apply GST to Purchase discount

Apr 29, 2019 4:48AM edited May 7, 2019 5:00AM in Financials for India - EBS (MOSC) 1 commentAnswered

Hi,

We receive materials from supplier with cash discount.

Example

Item Value Rs.100000

GST 5% Rs. 5000

Total Value Rs. 105000

Less

Discount 0.5% on Item Cost Rs.500

Net Payment Rs.104500

How to calculate discount after GST calculation.

Thanks

Mohan

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