Gst on quantity discount to be reversed- not in credit note?
This query is : Resolved
14 December 2018
Sir / Madam,
We have received some credit notes from our supplier for quantity discount (it would be based on various slab accumulated over each quarter 10 tonne to 25 tonne; 25 tonne to 50 tonne and so on). Hence we are not assure about the credit amount while procure the materials. The credit note is raised with a lumpsum only without GST portion.
1.Our question is whether we have to reverse the proportionate GST claim now which was earlier claimed by us in our GSTR -3B while procured the rawmaterial?
2. And what amount whether we have to treat as the credit note contains GST or GST applicable over and above the Credit note amount?
3. When our supplier does not reverse the GST applicable on the quantity discount in their return, shall we keep silent (not considering GST reverse at all) in our GST return?
Kindly advise us.
Thanks in advance,
With regards,
Bazeer L
We have received some credit notes from our supplier for quantity discount (it would be based on various slab accumulated over each quarter 10 tonne to 25 tonne; 25 tonne to 50 tonne and so on). Hence we are not assure about the credit amount while procure the materials. The credit note is raised with a lumpsum only without GST portion.
1.Our question is whether we have to reverse the proportionate GST claim now which was earlier claimed by us in our GSTR -3B while procured the rawmaterial?
2. And what amount whether we have to treat as the credit note contains GST or GST applicable over and above the Credit note amount?
3. When our supplier does not reverse the GST applicable on the quantity discount in their return, shall we keep silent (not considering GST reverse at all) in our GST return?
Kindly advise us.
Thanks in advance,
With regards,
Bazeer L
14 December 2018
1 Reverse proportionate GST claim.
2 GST applicable over and above credit note.
3 you can't keep silent ask your supplier reverse GST and revise credit note with GST.
2 GST applicable over and above credit note.
3 you can't keep silent ask your supplier reverse GST and revise credit note with GST.
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