if dealer sold good with Credit Card,
Financial Service Provider of Credit card issue of Invoice in name of dealer. Financial services Provider deducted some amount from such payment. Financial Service Provider shows In particular Subvention Income.
Is dealer can take credit of such invoice.....
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SUBVENTION INCOME UNDER GST
Replies (6)
Yes , offcourse , you can claim ITC, but ask for Tax invoice for the same from financer
I found on Google Subvention Income is like commission income ...
so what about 194H
so what about 194H
YES ITS COMMISON AS PER INCOME TAX TDS HAS TO BE DEDUCTED
Hi Sir,
Is there any Limit for deduction in F.Y 19-20
Can you mention the relevant section/rules / notification where i can understand accounting process for subvention income?
What is the accounting entry to be done ??
As the party account is settled against the payment received from financer and if i take the credit, the financer will be credited and a balance will appear in his ledger.
Please advice
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