Debit Note on import of Goods- GST Accounting

This query is : Resolved

Pragati Sharma (Querist)
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16 December 2020 A taxpayer imported goods of $20,000 from Malaysia. At the time of import he paid IGST of Rs. 1,00,000 and took full ITC.

Now at the time of payment he receives discount of $5,000 from the supplier. Since the supplier is not registered in India he gave a letter for discount.

Query:
1. Since the supplier is outside India, I should issue debit Note on his name for accounting effect?
2. Whether the debit note shall be issued or the discount shall be treated as separate supply under GST?
3. Since I will not be reversing any ITC so i should issue Financial Debit Note instead of GST debit note?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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28 December 2020 1. Since the supplier is outside India, I should issue debit Note on his name for accounting effect?
=Debit note should be issued in the name to who Sales Invoice was issued
2. Whether the debit note shall be issued or the discount shall be treated as separate supply under GST?
= It should be a financial Discount only
3. Since I will not be reversing any ITC so i should issue Financial Debit Note instead of GST debit note?
=Financial DN

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