Sir,
if supplier given quantity discounts to buyer but Quantity discount not given on the spot of invoice raised if buyer acchived their quality then given quantity discount
my question is what is the treatment of quantity discounts under gst
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Quantity discounts under gst
Replies (8)
As per Section 15(3)(b) , read with Circular 92/11/2019 , that Discount after supply where agreement for same established before supply & being tag with relevant invoices , such discount shall included in supply.
Hence in your case financial credit note can be issued (without GST effect)
Hence in your case financial credit note can be issued (without GST effect)
Yes... I agreed to Mr Pankaj Rawat's view...
But buyer how to treatment this
Buyer will also treat the same way...
Can buyer give me invoice of quantity discounts or remersment of sale of promotion with gst then I take ITC on this invoice
No buyer cannot Issue DNT for Quantity Discount.
Yes for any commission or sale Promotion Reimbursement the buyer can issue Tax Invoice
Yes for any commission or sale Promotion Reimbursement the buyer can issue Tax Invoice
If company given turnover discount to buyer then buyer should be raised invoice to supplier for sale of promotion then then supplier take ITC
it's right sir
can supplier book the entry incentive on sale
it's right sir
can supplier book the entry incentive on sale
Dear Ajay
No......
As already replied if co. Issue CNT for Turnover discount which can financial Credit Note or GST including CNT subject condition prescribed in section 15(3) .
Financial Credit Note issued : Buyer need to book such CNT under Income side p&l & no need to report such credit note in GST Return.
Credit Note including GST : Buyer need to reduce his purchase + ITC & need to report in 3B (Supplier will report the same in GSTR1).
Note : Buyer can raise tax invoice to company (Supplier) if any services being provided to Company (Supplier)
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