Question

Sold goods to yamini of list price of 25000 for rs 23000

Answer 1

li of item=®25000
orignal cp=®23000
gst=®(25000 - 23000)=2000
therefore,gst %=gst/cp*100
=2000/23000*100
=8 whole 16/23%

Answer 2

Yamini will credit his purchases account by 23 000 and debit his purchases account by 2000 while the seller will debit his sales account by 23000 ind credit it by 2000 for th discount allow, the discount should always be in the transaction since the worth of the goods is also with its discount.