WHAT WE CAN SHOW FREE QUANTITY OR SCHEME QUANTITY IN GST SALES INV.AS GST ACT
This query is : Resolved
Quick Summary
16 June 2021
Respected Sir,
We are traders of cold drinks item , we have cold drink trading to our customer with scheme item in gst inv.
for example
sale qty- 10 carton, GST paid
free/scheme qty - 2 carton Free
total - 12 caton
as per GST act we can give scheme qty or free qty to our customer
Please guide me
We are traders of cold drinks item , we have cold drink trading to our customer with scheme item in gst inv.
for example
sale qty- 10 carton, GST paid
free/scheme qty - 2 carton Free
total - 12 caton
as per GST act we can give scheme qty or free qty to our customer
Please guide me
CA Altamush Zafar
(Expert)
16 June 2021
Show it as discount in the invoice itself.
CA R SEETHARAMAN
(Expert)
17 June 2021
Yes, Such schemes are allowed under GST, you can give.
CA Puja Sharma
(Expert)
17 June 2021
Yes, you can give such schemes.
On the invoice you will mention the correct quantity. Under the discount mention the details of 2 quantity.
Further, in my opinion you should reverse the ITC on the 2 quantities you have given for free.
On the invoice you will mention the correct quantity. Under the discount mention the details of 2 quantity.
Further, in my opinion you should reverse the ITC on the 2 quantities you have given for free.
CA R SEETHARAMAN
(Expert)
17 June 2021
No need for reversal of ITC in such schemes.
It's not a free gift it's only trade discount.
It's not a free gift it's only trade discount.
20 June 2021
Agree with Seetharaman ji
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