12 July 2018
Dear sir , We are providing discount on the face of our tax invoice , not paying any tax on discount amount and not even reversing any amount of input in respect of discount .For example suppose our rate is 105/pc . We are billing 105(gross rate)-5(discount)=100(taxable value)*18%(gst rate), total invoice value Rs.118. Would there be any problem as we are not paying tax on discount amount and not even reversing ITC of input in respect of discount amount ?? Pls clearify
CAclubindia
