12 May 2018
We have received incentive of Rs. 49 lacs in FY 17-18 from supplier for achieving sale targets, for incentive supplier has issued credit notes.
Please suggest, whether we are liable to pay GST on the incentive received
12 May 2018
its depend on the condition of PO and agreement with vendor. if its part of sale achievement/qty. its gst Not applicable.or its rate diff of goods supply then gst will reverse.
17 May 2018
In some cases its part if sale achievement/ qty., but in some cases its for rate difference also. we have received credit note for both kind of incentives from the Supplier.
CAclubindia
