WHAT WE CAN SHOW FREE QUANTITY OR SCHEME QUANTITY IN GST SALES INV.AS GST ACT
This query is : Resolved
16 June 2021
Respected Sir,
We are traders of cold drinks item , we have cold drink trading to our customer with scheme item in gst inv.
for example
sale qty- 10 carton, GST paid
free/scheme qty - 2 carton Free
total - 12 caton
as per GST act we can give scheme qty or free qty to our customer
Please guide me
We are traders of cold drinks item , we have cold drink trading to our customer with scheme item in gst inv.
for example
sale qty- 10 carton, GST paid
free/scheme qty - 2 carton Free
total - 12 caton
as per GST act we can give scheme qty or free qty to our customer
Please guide me
16 June 2021
Show it as discount in the invoice itself.
17 June 2021
Yes, Such schemes are allowed under GST, you can give.
17 June 2021
Yes, you can give such schemes.
On the invoice you will mention the correct quantity. Under the discount mention the details of 2 quantity.
Further, in my opinion you should reverse the ITC on the 2 quantities you have given for free.
On the invoice you will mention the correct quantity. Under the discount mention the details of 2 quantity.
Further, in my opinion you should reverse the ITC on the 2 quantities you have given for free.
17 June 2021
No need for reversal of ITC in such schemes.
It's not a free gift it's only trade discount.
It's not a free gift it's only trade discount.
20 June 2021
Agree with Seetharaman 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?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
Trending Online Classes
CAclubindia
