XYZ is issuing credit to ABC for quantity discount. But this criteria and calculation is not mentioned in an agreement between the these parties. Credit note amount can trace billwise and credit note is seperately shown GST also. Because of the absence of rules mentioned in sec.15 of the CGST act, (i.e have agreement, but calculation criteria/parameter not mentioned its open ended) My question is: 1. If ABC is reversing the input of this credit note, XYZ can claim this benefit( can less from their taxable supply amount)
06 August 2018
It is difficult to substantiate the fact that discount was known at the time of supply, further you will be required to issue credit notes invoice wise
CAclubindia
