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Cash discount on Gst
I am getting a cash discount from a supplier for prompt payments is GST application on it?
Replies (1)
Yes , As per Section 15 (3) , if following conditions is fulfilled.
1.The discount has been allowed as per the term already agreed upon before time of Supply
2.The discount can linked with relevant invoice.
3. When the ITC related to discount is reversed by Recepient.
Hence if all the above conditions are fulfilled , the GST Attracts
1.The discount has been allowed as per the term already agreed upon before time of Supply
2.The discount can linked with relevant invoice.
3. When the ITC related to discount is reversed by Recepient.
Hence if all the above conditions are fulfilled , the GST Attracts
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