Dear sir/madam
INCENTIVE RECEIVED FROM IOC DIRECTLY TO BANK ACCOUNT without impact of GST .
HOW TO DISCLOSE IN GSTR-9 & HOW TO RECONCILE TURNOVER AS AUDITED FINANCIAL STATEMENTS AND GSTR TURNOVER..
THANKS IN ADVANCE
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INCENTIVE RECEIVED FROM INDIAN OIL CORPORATION
Replies (6)
Incentive received for which service?
My client running PETROL bunk sir
If incentive is under agreement with supplier that it will be given on a amount of sale etc. it shall be treated as discount.
On petrol gst doesn't apply
Yes it's Exempted , can report in table 5 of GSTR 9
Thank you sir
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