Gst on target incentive
This query is : Resolved
12 May 2018
We have received incentive of Rs. 49 lacs in FY 17-18 from supplier for achieving sale targets, for incentive supplier has issued credit notes.
Please suggest, whether we are liable to pay GST on the incentive received
Please suggest, whether we are liable to pay GST on the incentive received
12 May 2018
As per my opinion, GST is applicable as the incentive is related to the supplies made.
12 May 2018
its depend on the condition of PO and agreement with vendor.
if its part of sale achievement/qty. its gst Not applicable.or its rate diff of goods supply then gst will reverse.
if its part of sale achievement/qty. its gst Not applicable.or its rate diff of goods supply then gst will reverse.
17 May 2018
In some cases its part if sale achievement/ qty., but in some cases its for rate difference also.
we have received credit note for both kind of incentives from the Supplier.
we have received credit note for both kind of incentives from the Supplier.
17 May 2018
If supplier is not reducing his output tax liability for such rate difference, then also we required to reverse GST.
Because he has issued Credit note without GST.
Because he has issued Credit note without GST.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
