Discount
This query is : Open
David Rana
(Querist)
18 November 2017
what will be the treatment of discount received given by the company.? one of my client is receiving cash discount from its creditor thereby issuing the credit note of the same and journal entry is passed as debiting creditor account and crediting discount received account. How will I show such credit notes in Gstr 3B ??
please answer .
CA R SEETHARAMAN
(Expert)
18 November 2017
Such credit note need not be shown in gstr-3b as GST effect will not be there for cash discount.
David Rana
(Querist)
18 November 2017
but sir credit note also involve gst on amount of bill... Should I not consider such discount or this gst amount should be shown as ineligible credit? please reply
CA R SEETHARAMAN
(Expert)
18 November 2017
You should not consider such discount in gstr.
18 November 2017
It's cash discount then no need GST involve the Credit Note... If the dealer deduct with GST consider to the dealer..
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