WE ARE GETTING CREDIT NOTES FOR DISCOUNTS/RATE DIFFERENCES FROM OUR SUPPLIER LIKE SAIL, HZL AND ESSAR WITHOUT GST. WE WANT TO KNOW WHETHER DURING THE TIME AUDIT THE DEPARTMERNT ASK US TO REVERSE THE GST.
THANKS IN ADVANCE
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Credit note without gst
Replies (3)
No, department won't ask you to reverse it, however, please be sure that such discount is not in the nature of commission, if so, then you have to pay GST on the same
But for rate difference they should issue a credit note with gst...for discount it is ok.
How do you differentiate between "Rate difference" & "Discount"??
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