30 May 2023
Books is selected for gst audit for period 2017-18. We are distributor of FMCG co. In each month company offer secondary scheme on various products to retailers. As a practice scheme amount is first deducted from the price of goods and then GST is charged. Company issues credit note for the amount of scheme passed through invoices as above.these credit note is without any GST charges. It is not uploaded on portal by supplier. We did not make any ITC reversal in this respect. The assistant commissioner computed tax @5% on the amount of credit note and issued notice under section as above to pay tax and interest on it. We refer circular no 92/11/2019-GST,but not accepted by him. Am I liable to pay as per demand. Pl suggest reply for it if I am not liable to pay tax on credit note.
CAclubindia
