Collection of Tax in Invoice
This query is : Resolved
21 September 2021
Sir,
What was the correct method as per GST to collect tax in GST Invoice. Whether Tax should be collected for the net amount after deduction of discount or tax should be collected on the gross amount if discounts are shown separately in the invoice.
What was the correct method as per GST to collect tax in GST Invoice. Whether Tax should be collected for the net amount after deduction of discount or tax should be collected on the gross amount if discounts are shown separately in the invoice.
21 September 2021
If the discounts are given before the time of supply & stated differently in the invoice, then GST should be charged over net amount after deduction of discount.
21 September 2021
If the discounts are given before or at the time of supply and shown in the invoice, then GST shall be paid on the taxable value after deducting such discount.
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