alleryStart learning →Rs 50,000 sale; pre-agreed invoice-linked Rs 5,000 later discount, ITC reversed. Value?
ARs 45,000
BRs 50,000
CRs 47,500
DRs 55,000
Answer & Solution
Correct answer: A. Rs 45,000
All conditions of Section 15(3)(b) are met, so the discount is excluded and value is Rs 45,000.
Keep practising Computation of GST Liability
Browse all Computation of GST Liability questions for CA Inter, or explore more Taxation topics.
Related questions
For related-person tests, the term person also includes:Persons who are legally recognised partners in business are:Notified service of Rs 1,00,000 under reverse charge at 18%. Recipient pays?Intra-State sale of Rs 2,00,000 at 18% GST. CGST payable?Rs 50,000 sale; Rs 5,000 later discount never agreed earlier. Value?Price Rs 20,000 plus Rs 1,000 State-law cess billed separately. GST at 18%?Price Rs 30,000; buyer paid supplier's Rs 2,000 insurance, not in price. Value?Price Rs 60,000 plus Rs 3,000 commission billed; GST at 18% equals: