Contract for repair
For a repair contract of a transformer Rs. 1,00,000/-. The following items are included:-
- Material Cost – Rs. 80,000/-
- Labour Cost – Rs. 30,000/-
- Discount – Rs. 10,000/-
- payment made – Rs. 80,000/- by cheque
- Balance amount of Rs. 20,000/- is adjusted with the scrap wire extract from the transformer . The question is whether we have raised the bill for Rs. 80,000/- plus GST or for Rs. 1,00,000/- plus GST and the value of Scrap wire should be shown as payment.