A company has a policy of allowing a cash discount of 10 percent if a customer pays a particular invoice within 10 days. If the company sells goods worth Rs. 100 to a customer and the customer pays the invoice within 10 days to avail the discount.
How to deal with this cash discount in gst return and do I need to reverse itc corresponding to this cash discount?
if taxable value 100
discount showed in invoice 10
the GST charge on Rs.90
And if company allowed discount at the time of amount received from customers and not showed in invoice the GST charge on 100/-
CAclubindia
