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GST on goods return
Hello, we had made sell of 15 mica on 1st may and party had returned 12 mica on 4th may. Mica attracts 18% gst. Party is asking for refund on 12 mica,do we need to return GST amount as well to the party (unregistered end user)??
Replies (1)
When you raise the Credit Note , the GST with taxable Amount is return .
Now lets suppose customer purchase 15 mica for Rs. 150 & GST @ 18 % , total bill amount Rs.177/- (150 +18%) & the same is paid by Customer to supplier . Now if Customer Return 12 mica costing 120 , the supplier will raise the Credit Note for Rs. 120 + GST @ 18 % comes to Rs.142 (inclusive of GST) , so supplier will return him Rs. 142/-
Now lets suppose customer purchase 15 mica for Rs. 150 & GST @ 18 % , total bill amount Rs.177/- (150 +18%) & the same is paid by Customer to supplier . Now if Customer Return 12 mica costing 120 , the supplier will raise the Credit Note for Rs. 120 + GST @ 18 % comes to Rs.142 (inclusive of GST) , so supplier will return him Rs. 142/-
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