Input tax credit reverse on qty discount received under gst
This query is : Resolved
11 December 2017
Dear sir
We have received Qty discount from our suppliers. In that case Input tax credit reverse or not. If reverse please provide section.
Thanks and regards
Manoj Joshi
We have received Qty discount from our suppliers. In that case Input tax credit reverse or not. If reverse please provide section.
Thanks and regards
Manoj Joshi
11 December 2017
Please explain yourself for the "Quantity Discount".
12 December 2017
Is the discount received after supply? If so, such discount must be predetermined and such discount should be related to particular invoices. Moreover, ITC should be reversed by the recipient for such discount.
13 December 2017
please provide GST section
13 December 2017
Yes discount received after supply
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