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Kindly see the link question and answer attached below.. Highlighted one How "*on which Normal GP is 20%*"
Answers (4)
CA Suraj Lakhotia Admin
What is your doubt?
From Normal sale value of export debtors (i e 54lacs/90%=60lacs).... On which, How do they arrive Normal GP is 20%?? is my doubt.....
CA Suraj Lakhotia Admin
Gross profit is 25% and not 20%. The profit after adjustment of price is 9 lakhs and not 6 lakhs.
It is as per given only... Thank you sir...
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