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on discount

Others 186 views 6 replies
sir if we received cd on payment and this conditions is written in agreement then gst is payable or not ???
Replies (6)

GST not applicable provided the corresponding credit is reversed by you [Sec. 15(3)(b) of the CGST Act, 2017].

if only cash discount is reveived without any agreement but condition is applicable that if we pay with in 20 day then cd is given 2% or any the gst or any reverse charge is appliacable if the in which section or rule ???
if only cash discount is reveived without any agreement but condition is applicable that if we pay with in 20 day then cd is given 2% or any the gst or any reverse charge is appliacable if the in which section or rule ???
still you are eligible for net value of supply i.e sales less discount provided above conditions shall be mentioned in invoice. this can be adjusted with dept by way of raising credit note by supplier.
after tax or before tax

You have metion the Credit note details in the GST return in the month on which you are raising the credit note. ( subjet to the time limit specified in GST law).

For further details you may refer section 34 of CGST Act,2017. details out the the provisons of DEBIT/ CREDIT NOTES

 


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