Dear Sir,
Please guide me regarding allowing discount to our buyers in the invoice.
If we allow discount in the invoice, on which amount GST has to be calculated?
For example,
Taxable value. Rs. 100000/-
Less Discount Rs. 2000/-
Net Value Rs. 98000/-
We have to calculate the GST on
Rs. 100000/- or on Rs. 98000/-
Please guide me.......
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Invoice rules for allowing discount to recipients
Replies (4)
98000 is taxable value for gst
on 98000/-
yes rightly said by Mr deepak
yes rightly said by Mr deepak
GST calculated for the net value going to be paid by the buyer.
As discount is is showing in the invoice hence GST to be calculated on Rs 98000 only. But discount figure should not be abnormal one. It should be in line with the business practice.Please refer Section 15(3) of CGST ACT ,2017 for furhter clarification.
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