Regarding post sale discount
This query is : Resolved
10 July 2019
Respected sir,
for example if we are engage in business of petroleum. we have monthly and yearly sales targets or purchase targets if we achieve that targets we receive certain income from company and it will directly credited to our bank. and generally it received on vat items( for example basis of that discount or reward was based on sale or purchase of petroleum(vat item). so my question is whether that reward received by us is taxable under gst and if yes what will be hsn code or what will be tax rate for the same.
Thank you in advance.
for example if we are engage in business of petroleum. we have monthly and yearly sales targets or purchase targets if we achieve that targets we receive certain income from company and it will directly credited to our bank. and generally it received on vat items( for example basis of that discount or reward was based on sale or purchase of petroleum(vat item). so my question is whether that reward received by us is taxable under gst and if yes what will be hsn code or what will be tax rate for the same.
Thank you in advance.
13 July 2019
Read Circular Number 105/2019-CGST dated 28th June,2019, however, i am not in agreement with the treatment given in this circular for the post facto discounts.
Thanks And Regards
CA Shubham Sharma
email-shubham.vnv@gmail.com
Contact-9462302922
Thanks And Regards
CA Shubham Sharma
email-shubham.vnv@gmail.com
Contact-9462302922
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