GST on Discount received after purchase
This query is : Resolved
Quick Summary
Mansi Shah
(Querist)
14 December 2020
Dear Sir,
Please clarify what documents needed for Discount received from supplier of goods for release payments before due date along with credit note.
We are taking discount letter from them. Is there any requirement of letter from Supplier for post sale discount?
As per my understanding there is no GST in Post sale discount if i m wrong please let me know?
Please clarify what documents needed for Discount received from supplier of goods for release payments before due date along with credit note.
We are taking discount letter from them. Is there any requirement of letter from Supplier for post sale discount?
As per my understanding there is no GST in Post sale discount if i m wrong please let me know?
CA R SEETHARAMAN
(Expert)
14 December 2020
Yes, you are right no GST on post sale discount not contemplated at the time of sale.
Mansi Shah
(Querist)
14 December 2020
Please give advice for letter should be taken for receiving post sale discount from supplier is mandatory?
CA R SEETHARAMAN
(Expert)
14 December 2020
Not mandatory in case of no GST.
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