If a recipient of service deducts as penalty from the contract price of supplier for providing below quality goods,but accepted the goods due to urgency,So, here GST will be charged on amt after deducting penalty or whole contract price?
Shivam Chomal (498 Points)
15 June 2017If a recipient of service deducts as penalty from the contract price of supplier for providing below quality goods,but accepted the goods due to urgency,So, here GST will be charged on amt after deducting penalty or whole contract price?
Sunil Dhiwa
(Tax Consultant)
(170 Points)
Replied 15 June 2017
Penalty Means Reduce the Contarct Bill
So he ahs to Reduce the Input GST Credit By way of Debit & credit Note
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
