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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Reporting of STCG on Property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
