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Any Discount
Is any provision to pay GST on Goods receiver (purchase) towards Any Discount given by Supplier of goods whose discount given with out effecting GST Amount?
Replies (3)
Quick Summary
Discount was given before supply or after supply?.
After Supply
As per Section 15(3) Discount given after supply will be ALLOWED to deductions in sale value only :
1. It is mentioned in agreement made before supply & can link to relevant invoices; and
2. Receipent has reverse the ITC.
So here it is to be noted that it's supplier who is ALLOWED to reduce his GST only if said condition is satisfied else he can issue a financial credit note.
1. It is mentioned in agreement made before supply & can link to relevant invoices; and
2. Receipent has reverse the ITC.
So here it is to be noted that it's supplier who is ALLOWED to reduce his GST only if said condition is satisfied else he can issue a financial credit note.
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