24 February 2024
INVOICE SAMPLE Seller.....A Buyer ...B TAX INVOICE
I. ITEM RMCTH......3nos. Rate 500 each 1500.00
Add.. GST 18% 270.00 Total 1770.00
Special Discount.................. 270.00
Amount Payble.................... 1500.00
Amount paid by B to A............Rs.1500.00
Query.....Whether the Buyer B has to reduce ITC of GST 18% on on Discount Rs.270.00 ??; Here the seller A has not reduce any Gst liability of his own and deposited the full GST charged of Rs. 270.00 to the Revenue... Please Resolve and Clarify....>THANKS
02 March 2024
Sir, The discount has been given by the Supplier on The Tax Invoice ,itself after charging gst on the original price and deposited the full gst and 2A also ...reflects the full TAX Amount.... INVOICE SAMPLE .TAXABLE AMOUNT>>>Rs.5000 TAX........18%GST Rs. 900 TOTAL....................Rs.5900.00 Discount ....... Rs. 400.00 Grand Total..... Rs.5500.00 The Buyer paid Rs.5500.00 and the seller deposited full GST amount Rs.900.00......Whether ITC on RS 400.0 is to be reversed...
CAclubindia
