I have purchase vehicle 20 lakhs with gST and party show in GSTR I and next month he shown credit note for discount Rs. 100000 along with GST and i have recevres the ITC in GST and SHow the Discount as Income in INcome Tax and in GSTR -9 all the ITC match in GSTR - 9 buit i want to show that discount Income as expemted ??? or where to show that Discount Received Income in GSTR - 9???
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Discount Received Income in GSTR - 9
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Discount received from a supplier via a GST credit note is not a supply under GST. It should not be shown as exempt or taxable turnover in GSTR-9. The only GST impact is the ITC adjustment, which you’ve already matched correctly. Showing the discount as income in the Income-tax return is correct, but no separate disclosure is required in GSTR-9.
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