Discount Debit note in GSTR 1?

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32 Points Posted on 24 June 2020
Discount received from supplier
(eg quarterly discount, speci
al discount) by way of credit note , to be required to show in gstr 1? by us (receipient)
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On 24 June 2020 at 12:27 Report
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Quick Summary
This discussion clarifies that if you receive a discount from a supplier via a credit note, you do not need to show it in your GSTR 1 filing. Instead, you should reverse the corresponding Input Tax Credit (ITC) in your GSTR-3B. There is no specific provision for reporting received discounts in GSTR 1, although discounts you issue to customers can be reflected.

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CA Student
15932 Points Posted on 24 June 2020

No.

Reverse the corresponding ITC in GSTR-3B, 4(B)(2).

1 Reply
On 24 June 2020 at 12:54
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ACCT
95 Points Posted on 27 June 2020
No Provision for received Discount from supplier in Gstr1.But if U give Discount then U can show it to GSTR1.
1 Reply
On 27 June 2020 at 05:27

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