If my one product Basic price is Rs.5000 and then I given discount before GST Rs.4999 means my taxable value is Rs.1 and then I charge GST @ 18% and Total invoice value comes Rs.1.18
My question is that I can do that or not, if not then explain me.
It's urgent
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Replies (9)
As per section 15 (3) (a) of the CGST act 2017 The value of supply shall not include any discount which is given before or at the time of supply if such discount has been duly recorded in the invoice issued in respect of supply .
Thanks can u simplify in examples and simple language for quick understand
in your example,
if you recorded the dicount of 4999 on invoice then your value of supply is 1.18(inclu. gst) and you wont get itc on 4999
if you recorded the dicount of 4999 on invoice then your value of supply is 1.18(inclu. gst) and you wont get itc on 4999
if I given discount then I can avail ITC
i think NO
please confirm me not I think
confirm NO
As per section 15 (3) (a) of the CGST act 2017 The value of supply shall not include any discount which is given before or at the time of supply if such discount has been duly recorded in the invoice issued in respect of supply .
On applying gst registration,it is showing pending with tax officer...wt to do?
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