Please help me to know that any gst implications for discount received As a part of sales promotion our Seller company is allowing 7% discount on our sales . That amount we are claiming through generating debit note by debiting seller company and crediting discount received. Please let me know any gst implication on this amount? We are treating this as non gst debit note
18 October 2019
sir, they are also treating this as non gst debit note and issued credit note to us without gst. when i spoke to gst department, they are saying that input credit has to be reversed. We are just passing debit note by debiting that company and crediting discount received. This is actually the difference amount of discount ie., we are allowing 35% discount to this customer and out of that 5% discount amount we can claim from seller company and for that we are passing debit note. Pls help me to know we can solve gst implication on this
CAclubindia
