Regarding Discount

Reduction of Liability by supplier and corresponding reduction of ITC by recipient on receipt of discount only to be done if an agreement to that effect existed at the time of original sales. Otherwise no effect on GST.

If the agreement to provide the discount (whether in oral or written exists ) before or at the time of the sale then the discount can be adjusted in the invoice or afterwards through debit or credit note. Other wise discounts will not form part of GST asset or liability.