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.
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