Discount On Sale
This query is : Resolved
03 March 2020
One party had sale on July 2019 (let say 100+18=118)but buyer done payment less then invoice value let say 98 so party shown the difference in discount i.e. 2 Rs. and issued credit note of Rs 2 to Buyer. Is GST applicable on discount amount ?
03 March 2020
Yes
GST on discount is not applicable only on those cases where the it is indicated in agreement before the supply takes place
GST on discount is not applicable only on those cases where the it is indicated in agreement before the supply takes place
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03 March 2020
Thanks for reply Mam. Can you please tell me in detail what will be treatment in GST Returns? Whether GST will be deducted from outward supply ?
03 March 2020
if you want to reduced your gst liability then you should issued credit note to the party.
2 Rs + gst applicable
2 Rs + gst applicable
04 March 2020
can we issue credit note of Rs 2 to party without GST and debit Rs 2 in P&L A/c as discount?
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