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VALUATION IN CASE OF BUY ONE GET ONE SALE

Kamal Jain (Student CA Final ) (111 Points)

14 December 2018

On which value, GST would be levied in case of sale of goods on buy one get one scheme?

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jyoti bhagchandani (fresher) (595 Points)
Replied 14 December 2018

Under GST regime, anything supplied as ’Free’, the tax will not be levied on such supplies. Nevertheless, on doing so, businesses need to sacrifice the benefit of input tax credit. This means, businesses will not be entitled to input tax credit on the goods, which are supplied as ’Free,’ and proportionate ITC needs to be reversed.

Kamal Jain (Student CA Final ) (111 Points)
Replied 14 December 2018

how will the billing is made?

jyoti bhagchandani (fresher) (595 Points)
Replied 14 December 2018

i hope this link will be helpful to you https://thevistaacademy.com/blog/2018/10/31/tally-free-samples-buy-one-get-one-free-tally-gst/

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