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Charging GST on fair market value which is different value than transaction value

camanojrane
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I have a situation where we are having a guest house charging concessional rent from employees. However as per GST Act, GST is to be paid on fair market value. For example, we are charging Rs. 100 from employees but fair market value is Rs. 1000. Hence we have to charge GST on Rs. 1000 but we still have to recover from employee only Rs. 500.

In standard FI invoice through t code FB70, GST is charged only on the amount which is credited to income GL with tax code. Hence we are crediting Rs. 100/- to income GL with tax code and accordingly GST is charged on Rs. 100/- instead of Rs. 1000.

I tried to handle the situation by usting stastical GL by posting following entry through t code FB70:

Customer for Guesthouse 100.00

CGST - Payable 90.00-

SGST - Payable 90.00-

Discount 80.00 no tax code

Stat A/C--INC 1,000.00- with Tax code

Stat A/C--INC 1,000.00- no tax code

This has solved my problem except for generating E invoice through t code edoc_cockpit where taxable value is picked up as Rs. 2080/- instead of Rs. 1000/-

Hence please guide how to proceed with the situation -

thanks in advance.

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