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
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
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
How do you differentiate between "Rate difference" & "Discount"??
Naveen Fintech Pvt Ltd
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