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Gst for sales promotion

1782 views 4 replies

Accountant

50 Points Joined August 2014

Hi,

One of my friend is doing Pharma - wholesale business. Their supplier is giving business incentive of 1.74 lakh based on their offtake for the fiscal 17-18. Usually the supplier issue a Credit Note to the firm and adjusted the amount in their subsequent purchases (till VAT regeme). Now in GST is applicable for incentive, they asked a sale invoice from my friend for 1.74 lak + 18% GST.

Please clarify whether we have to give a sale Invoice / Debit Note for the amount & how it will shown in GST Return and related HSN / SAC Code

Replies (4)

Accountant

50 Points Joined August 2014

any help friends

CA POOJA

CHARTERED ACCOUNTANT

934 Points Joined August 2011

one of our client was doing the same and yes we have allowed them to provide invoice with GST and same can be taken in GST return.

I am not sure whether this is fair or not but we did this practically.

Accountant

50 Points Joined August 2014

thank you very much

Amrender Singh

SR. A/C & AUDIT EXECUTIVE

26 Points Joined May 2012

In GST as per HSN/SAC 996111 need to issue the Service invoice for indirectly promotion of an organisation's products,
thus the same invoice need to fill in GSTR B2B for Registered dealers and B2C for unregistered Dealer.

The Supplier firm will re-imbursed against this service invoices either on monthly or quarterley.

Thanks.