GST On Cash Discount and Turnover Discount Credit Note

This query is : Resolved

Deodatt S.Kulkarni (Querist)
Follow

03 February 2022 Resp.Sir,
We Issues two types of Credit note

1. Turnover Discount ( with Scheme amount plus GST)
eg

TOD A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c

2. Cash Discount , (on time payment by Debtors with amount plus GST
Cash Discount A/c ...Dr
Input CGST ..Dr
Input SGST ..Dr
To Party A/c

My Query is Shall we Charge/Reverse GST in Credit Note.

Deodatt S.Kulkarni

Deodatt S.Kulkarni (Querist)
Follow

05 February 2022 SIR WAITING FOR YOUR VALUABLE RESPONSE..