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gst on cement industry

12 May 2018

hello
can anyone guide me whether gst is applicable on incentive received of i.e rs.6/bag of cement purchases from main company directly credited to purchaser bank account ?

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9 Replies

CA Rashmi Gandhi (Chartered Accountant) (86285 Points)
Replied 12 May 2018

Yes for that you have to asked for debit note from your suppliers....

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 13 May 2018

Should be Credit Note from supplier

2 Like

CA Rashmi Gandhi (Chartered Accountant) (86285 Points)
Replied 13 May 2018

Yes credit note wrongly write debit note...

1 Like

ASHISH JAISWAL (25 Points)
Replied 13 May 2018

sir/ma'am
what is the impact of credit note received from supplier in case of purchasers gst return?

CA Rashmi Gandhi (Chartered Accountant) (86285 Points)
Replied 13 May 2018

Tax amount of such incentive get deducted from your ITC....

1 Like

ASHISH JAISWAL (25 Points)
Replied 13 May 2018

ma'am
which type of tax.. is it i.e tds on commission or gst @ 18% on service of agent or 28% gst on cement, is to be deducted from the ITC earned by me ?