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GST on incentive income

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33 Points Posted on 08 June 2020
Dealer reached the targets as given by company,and sold out goods more than the targets given, because of which company had given incentive to the dealer

Is Incentive income received by dealer attracts gst?...is gst payable on it while performining Gst Audit of FY 2018-19...
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On 08 June 2020 at 21:46 Report
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Student
1321 Points Posted on 08 June 2020
Incentive income is chargeable to tax.
6 Reply
On 08 June 2020 at 22:06
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33 Points Posted on 08 June 2020
With any reference or supporting..if one can provide
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On 08 June 2020 at 22:09
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GST Practitioner
55067 Points Posted on 08 June 2020
As per Section 15 of CGST Act Any inventive or Discount for which an agreement has been done before supply & such discount or incentive can link to relevant Invoices , then Yes supplier is required to Issue GST Credit Note.

(For more explanation kindly refer Circular 92/11/2019 GST)
301 Reply
On 08 June 2020 at 23:37
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4215 Points Posted on 09 June 2020
Incentive income received by a registered dealer is taxable
12 Reply
On 09 June 2020 at 08:32
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GST Practitioner
55067 Points Posted on 09 June 2020
Yes in Incentive or Commission where TDS has been deducted be surrey be taxable & attracts GST . But as per Queriest the Query sounds that It's additional discount in form achievement of target ,can be called as turnover scheme. so in this case Section 15 (3) of CGSt need to be refer.
301 Reply
On 09 June 2020 at 23:20


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