Question

Auto aid delhi purchased 500 pieces of car horns @ 200 each less 10% trade discount plus IGST @ 12% from auto horns chandigarh. What is the invoice value

Answer 1

purchase value =500*200
                        =100000
 trade discount = 100000*10%
                        = 10000

net puchases= purchases- trade discount 
                     =100000-10000
                      =90000

IGST = 90000*12%
            =10800

Jounal entry 

Puchses A/c Dr    90000
IGST A/c      Dr     10800
     To bank/cash/debtor A/c       100800
(being goods purchases)


hope answer is useful 

Answer 2

Answer:

purchase value =500*200

                       =100000

 trade discount = 100000*10%

                       = 10000

net puchases= purchases- trade discount 

                    =100000-10000

                     =90000

IGST = 90000*12%

           =10800

Jounal entry 

Puchses A/c Dr    90000

IGST A/c      Dr     10800

    To bank/cash/debtor A/c       100800

(being goods purchases)

hope answer is useful 

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