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Gst on discount
discount known at the tym of sale ..but it cannot be link to relevant invoice ( due to scheme discount) .. wheather itc need to be reversed or not..
Replies (3)
No , the GST not attract .
As per section 15 CGST Act : Both the condition should satisfy 1. Known at the time of supply 2. Can link to relevant invoice. Hence no GST attracts
As per section 15 CGST Act : Both the condition should satisfy 1. Known at the time of supply 2. Can link to relevant invoice. Hence no GST attracts
k tq pankaj rawat ji
@ Vishesh
As per Sub section (3) of Section 15 CGSt Act : The value of supply shall not include discount if
[i] such discount is established in terms of an agreement entered into at or before the time of such supply AND specifically linked to relevant invoices;
Hence if both the condition is fulfilled then only GST is livable on Discount
As per Sub section (3) of Section 15 CGSt Act : The value of supply shall not include discount if
[i] such discount is established in terms of an agreement entered into at or before the time of such supply AND specifically linked to relevant invoices;
Hence if both the condition is fulfilled then only GST is livable on Discount
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