Discount on Purchases - Credit Balance

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1244 Points Posted on 12 May 2023
What is the GST treatment for 'Discount on Purchases' ledger having Credit Balance?

Will GST be payable on it?

Please help. Thanks 🙏
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On 12 May 2023 at 12:26 Report
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Quick Summary
This discussion seeks clarification on the Goods and Services Tax (GST) treatment for a 'Discount on Purchases' ledger that has a credit balance. The user is asking whether GST is payable in such a scenario. They also mention that if a credit note received includes GST, the Input Tax Credit (ITC) needs to be reversed, and the corresponding tax paid.

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GST Practitioner
55067 Points Posted on 12 May 2023
The credit note reced is included GST then need to reverse the ITC also & accordingly tax need to be paid
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On 12 May 2023 at 23:06
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3 Points Posted on 15 May 2023
What is the meaning of performance appraisals
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On 15 May 2023 at 12:30

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