Discount given after sale
This query is : Resolved
Dharmesh Mistry
(Querist)
11 August 2022
Need advise for raising Credit Note as mention below is right & for HSN
We supply goods to parties after charging GST & that party pay against that invoice & if they pay within 30days we offer 10% discount so do we have to raise credit note to adjust the difference between GST sales Invoice & payment received & what is the HSN for Discount
Taxable Value: 100
GST : 18
Invoice Value: 118
Payment Received after deducting 10% discount on 118 i.e. 118 Less 12 = 106
so do we need to raise Credit Note as below
Taxable Value: 11
GST : 1
Credit Note Val: 12
Please advise
We supply goods to parties after charging GST & that party pay against that invoice & if they pay within 30days we offer 10% discount so do we have to raise credit note to adjust the difference between GST sales Invoice & payment received & what is the HSN for Discount
Taxable Value: 100
GST : 18
Invoice Value: 118
Payment Received after deducting 10% discount on 118 i.e. 118 Less 12 = 106
so do we need to raise Credit Note as below
Taxable Value: 11
GST : 1
Credit Note Val: 12
Please advise
CA Puja Sharma
(Expert)
11 August 2022
You will use the same HSN code as used at the time of sale in the Tax Invoice.
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