Menu
GST on Scheme Discount
Is GST applicable of Scheme discount received at the end of the year through credit note from suppliers?????
Replies (6)
yes if it is agreed in the agreement that scheme discount will be provided, then the person who received the credit note should reverse ITC and the suppler can reduce Outward taxable to the extent of credit note issued
Wheather gst is charged on credit note?
No
Then you have to reverse as per section 16
If discount received by composition dealer then what to do
if it's year end discount recieved by way of financial credit note, then no need to reverse ITC, as supplier will not reduce his output tax liability to the extent of financial credit note
Recent Topics :
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
Related Topics :
CAclubindia
