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discount received
I have a mobile shop, i am receiving discount, scheme, branding support ,etc for sales these items are showing as Indirect incomes in profit and loss account.my turnover is 1.25 cr . and total of that Indirect incomes is 8.75 lakhs, please tell me the applicability of gst for that scheme, discount, branding support. and effect of these items in tax audit
Replies (2)
There wont be any GST impact on discounts and all those other items
That is not you income as well, its just book income and not actual cash receipt.
Either show it les from cost of purchase or show it on income side.
As u wish
Sometimes seller gives credit note on discount against mobile promotion or schemes.
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