Discount given after sale

This query is : Resolved

Dharmesh Mistry (Querist)
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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

CA Puja Sharma

CA Puja Sharma (Expert)
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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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