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Post sale discount under GST
what about the taxability of discount received after sale which is agreed upon by seller and buyer before sale. for example, scheme discount, target discount or incentive for selling a certain quantity of product. is it taxable or exempt u/s 15(3)?? if it is not taxable then is there any ruling regarding this to save the taxpayer??
Replies (1)
If the discount is considered a price adjustment, it may not be taxable. For example, if the seller and buyer agreed on a lower price for the goods or services due to a defect or other issue with the product, the discount may not be considered taxable income for the seller.
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