Invoice

Invoice

Hello Sir/Madam,
I am going to start a tea repacking business. I want to keep my product MRP(inclusive of taxes) 240. At 5% gst pre gst amount will be 228.57. If I pay the total gst amount 11.43 and give retailers a flat discounted rate of 170, how will i prepare the invoice please give a format.

Thanking you

Asked 5 years ago in GST

Hello,

The rate of 170/- you have quoted is the amount of discount or the price at which you want to give to the retailers ?

Also, this amount would be pre GST or after GST ?

Thanks
Damini

Damini Agarwal

CA, Bangalore

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If you provide tea to retailer at 170 then you will charge 170+5% GST i.e. 178.5 and this 8.5 RS credit would be used by them to pay their part of GST i.e. 11.43.

Therefore their profit would be 58.5.

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Thank you