GST on credit note for Target based discount
This query is : Resolved
19 October 2020
is the credit note which is based on target achivement in sales is liable to tax?.
for ex. if supplier agrees to give an additional discount of 4% if the customer purchases 100000/- from him in a month in form of credit note. should GST be applied on this discount amount. Also whether TDS is also applicable
for ex. if supplier agrees to give an additional discount of 4% if the customer purchases 100000/- from him in a month in form of credit note. should GST be applied on this discount amount. Also whether TDS is also applicable
19 October 2020
No, you can not include GST in credit note if this additional discount was not in agreement before delivery of goods. TDS is not applicable for discount given.
20 October 2020
Thank you Lekhraj ji.
Just for my clear understanding, Supplier has provided scheme letter related to month target and additional discount mentioning in first week of the month. does this comes under the staement "additional discount was not in agreement before delivery of goods".
Also, could you please give me a reference supporting my query. This would be a great help
Just for my clear understanding, Supplier has provided scheme letter related to month target and additional discount mentioning in first week of the month. does this comes under the staement "additional discount was not in agreement before delivery of goods".
Also, could you please give me a reference supporting my query. This would be a great help
20 October 2020
You must have given the PO/agreement to the supplier. Is it mentioned there?
Can you share the agreement/PO and the scheme letter on lekhrsood@gmail.com
Can you share the agreement/PO and the scheme letter on lekhrsood@gmail.com
21 October 2020
Scheme letter format send to your mail Lekhraj ji.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
