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Value of Supply

'The list price of the goods takes into account the two subsidies received ' Can you explain the meaning and treatment of it.Iam unable to understand

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Yazhini C V

Yazhini C V

CA Inter

315

1 day ago

46

Answers (9)

List price already adjusted with two subisdies i.e. â?¹15,00,000 is after adjusted with central govt. Subsidy of â?¹2,10,000 and ngo subsidy of â?¹50,000 Just we have to ignore central govt. Subsidy it already deducted (allowed u/s 15) Add back ngo subsidy â?¹50,000 (which is not allowed as exclusion u/s 15)


Prakash Murugan

Prakash Murugan

CA Inter

690

1 day ago

Is it correct? Check with your solution and say

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Prakash Murugan

Prakash Murugan

CA Inter

690

1 day ago

Prakash Murugan

Is it correct? Check with your solution and say

I don't have doubt with the answer .I just want to know that they have mentioned list price includes subsidies.What does that mean??Is Rs.15 Lakhs is inclusive of 2.1 lakhs+50k because that is what I understand from the question.If anyone has more clarity,tell me


Thread Starter

Yazhini C V

Yazhini C V

CA Inter

315

1 day ago

Thread Starter

Yazhini C V

I don't have doubt with the answer .I just want to know that they have mentioned list price includes subsidies.What does that mean??Is Rs.15 Lakhs is inclusive of 2.1 lakhs+50k because that is what I understand from the question.If anyone has more clarity,tell me

It means the subsidy recieved from NGO and Government are already excluded from the List price. So the treatment will be , we add back only NGO subsidy to list price i.e. 50k


Manav Dixit

Manav Dixit

CA Inter

225

24 hrs ago

No man the answer is not correct List price. :. 1,50,000 Govt subsidy:. Nil NGO subsidy:. 50,000 Tax by muni. :. 20,000 Packing charges:. 15,000 Late fee:. 5,085 (6000*100/118) Value of taxable supply. :15,90,085


Manav Dixit

Manav Dixit

CA Inter

225

24 hrs ago

Thread Starter

Yazhini C V

Means the list price will take into account the subsidy? Is it like HINT ?

Yes it is a hint that subsides are already adjusted ( excluded)with the price


Manav Dixit

Manav Dixit

CA Inter

225

22 hrs ago

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