Discount in credit notes
When a cement manufacturing company gives a credit note for discount to a dealer in which they mention GST amount at 28 % and it is reflected in GSTR-2A
How should the dealer furnish it in GSTR-3B and should he have to pay tax in cash if the dealer is in short of ITC.
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Discount in credit notes
Replies (4)
you should charge GST only after deducting discount
You Have to reduce your ITC for that month 3b. by the amount of gst mention in credit note
Note : This credit Note must have reflected in Credit note Section of 2A
Note : This credit Note must have reflected in Credit note Section of 2A
if ITC NOT AVAILABLE THEN SHOULD WE HAVE TO PAY??
In case of cement
Purchase price say 100 + GST
Stockist receive at purchase price at 100 and credit note for rs. 5+GST and rs. 5 without GST.. effective price 90...
Stockist billed to dealer at 92+GST and reverse the ITC of rs 5 credit note...
In this case stockist left with .84 paisa GST as input...
Is it right or wrong...and what should do with left ITC.
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