Query related to discount treatment in gst

vipul (ca) (26 Points)

10 May 2019

what and how to do treatment in gst returns for discount received ( with gst ) charged

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6 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 10 May 2019

read today's economic times. a big article related to coca cola is given which is related to discounts given but no GST paid on it

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RAJA P M ("Do the Right Thing...!!!") (128083 Points)
Replied 10 May 2019

You can claim ITC based with Discount value...

pritesh (CA Final student) (7101 Points)
Replied 10 May 2019

Discount received with gst then its your liability that you have to reverse the ITC in 3b

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 10 May 2019

yes the Discoount reced with GST the ITC is to be reverse , show it in 3b

Nishant shah (AUDIT ASSISTANT) (302 Points)
Replied 11 May 2019

ITC will reduce to the extent of discount so reduce it from 3B

CA Shikha Sharma (Ceo) (3869 Points)
Replied 11 May 2019

discount received with GST ITC must be reverted

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