GST On Cash Discount and Turnover Discount Credit Note
This query is : Resolved
03 February 2022
Resp.Sir,
We Issues two types of Credit note
1. Turnover Discount ( with Scheme amount plus GST)
eg
TOD A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c
2. Cash Discount , (on time payment by Debtors with amount plus GST
Cash Discount A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c
My Query is Shall we Charge/Reverse GST in Credit Note.
We Issues two types of Credit note
1. Turnover Discount ( with Scheme amount plus GST)
eg
TOD A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c
2. Cash Discount , (on time payment by Debtors with amount plus GST
Cash Discount A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c
My Query is Shall we Charge/Reverse GST in Credit Note.
05 February 2022
SIR WAITING FOR YOUR VALUABLE RESPONSE..
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