Treatment of discount
Manish Shaw (Student) (106 Points)
23 September 2019Please clarify the treatment of discount & Insurance charges in purchase bill under GST
Thanks
Manish Shaw (Student) (106 Points)
23 September 2019
Kunal Mittal
(FINANCE OFFICER)
(580 Points)
Replied 23 September 2019
DISCOUNT if levied to be deducted from basic amount and corresponding gst also to be deducted.
same is with insurance charges, if insurance charges are levied in purchase bill, the gst of highest denomination, ei if there are two gst slabs levied for example 5 a^ 18, then 18% will be levied.
Manish Shaw
(Student)
(106 Points)
Replied 23 September 2019
Pankaj Rawat
(GST Practitioner)
(55032 Points)
Replied 23 September 2019
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