Itc after discount

ITC / Input 253 views 5 replies

IF REGISTER DEALER PURCHASE GOOD FROM REGISTERED SUPPLIERS AND INVOICE GENERATED AND AFTER SUPPLIERS ISSUE DIFFERENT CREDIT NOT FOR EXTRA DISCOUNT ON ACHIVE TARGET SCHEME AND MONTHLY SALE SCHEME.

SO GOOD RECEIVER WHAT TO DO FOR ITC.

EXAMPLE

 

BILL NO. 01

TAXABLE VALUE IS           10000

CGST                                     1400

SGST                                      1400

                TOTAL                   12800 RS

SO ITC RS 2800

 

AFTER SUPPILERS ISSUE CREDIT NOT ON ABOVE INVOICE RS 600 EXCLUDING SGST+CGST =168(84+84)

AND MONTHLY TARGET DISCOUNT CREDIT NOT ON ABOVE INVOICE RS 100 EXCLUDING SGST+CGST =28(14+14)

 

ABOVE BOTH CREDIT NOT ISSUE IN DIFFERENT VOUCHER.

 

SO RECEIVER WHAT TO DO FOR ITC AND HOW MUCH ITC WOULD BE CLAIMED.

Replies (5)
Itc will be net always... i. e 1400-84-84.....in gstr3b and it is automatically uploaded in ur gstr2a
please clear
Just reduce ur itc in gstr3b and ur supplier uploaded credit note in their GSTR1 for respective month and it will be auto populated in ur gstr2 and then u accept it and it come in ur gstr2... Hope now ur query resolved
ok thanks i can understand it

ITC on discount.

Where the supplier does not charge the GST only on the basic amount- then full credit can be availed.

Otherwise if discount of 100 + 18 ( GST) then invoice wise debit by recipient automatically will go to credit of the supplier.


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