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Gst RCM
GST IS Applicable on cash discounts given if it exceeds ₹5000. RCM applicable???
Replies (4)
first of all I cannot see any possibility of rcm being involved in cash discount......
can you give me little detail of the type of transaction you are talking about?
can you give me little detail of the type of transaction you are talking about?
suppose goods supplied for Rs 500000, debtors paid 490000 , than 10000 is cash discount,
gst to be charged on 10000 under reverse charge
if discount given at the time of issuing of invoice itself than there will be no gst on discount.....but if discount given on a date latter than the issue of invoice (and there is no prior agreement for such discount) than gst is leviable....but if there is prior agreement for discount than no gst..
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