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discount after supply

Sumit Chaudhary (120 Points)

07 April 2018

how to treat discount in case of company scheme under GST how to maintain it under GST?

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RAJA P M ("Do the Right Thing...!!!") (127046 Points)
Replied 07 April 2018

You can deal 2 ways for the Discount....

i) Discount will be give basic Prize then no need to avail ITC benefits for the purchase...

ii) If you want avail the ITC benefits then charge GST for the Full value of supply. After charging GST then you can give discount on basic value..

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Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 08 April 2018

Treat as as the company does, if they are giving u discount cnt with GST , then pass entry accordingly by reversing input, & if they giving u a CNT without GST then book it in income