Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

GST impact

186 views

Save Share

Nirad Sahoo

student

41 Points Posted on 17 June 2020

Damage quantity in buyer place and same not returned back to supplier place and rates differences how GST will impact from sellers point of view and buyer point of view and effect in Gst return from suppliers side. Can anyone explain in detailed?

Replies (3)

Quick Summary

This discussion explores the implications of GST on damaged goods that are not returned to the supplier. It covers how rate differences affect both buyers and sellers, and the impact on supplier GST returns. The conversation also touches upon accounting entries for reversing credit on damaged goods and how compensation for losses is handled under GST.

KRISSHNAN KP

4215 Points Posted on 17 June 2020

For damage the seller and buyer come to an agreement to compensate the loss and GST will collect by the subsequent sell according to their taxable value