Menu
Cash discount on Gst
I am getting a cash discount from a supplier for prompt payments is GST application on it?
Replies (1)
Yes , As per Section 15 (3) , if following conditions is fulfilled.
1.The discount has been allowed as per the term already agreed upon before time of Supply
2.The discount can linked with relevant invoice.
3. When the ITC related to discount is reversed by Recepient.
Hence if all the above conditions are fulfilled , the GST Attracts
1.The discount has been allowed as per the term already agreed upon before time of Supply
2.The discount can linked with relevant invoice.
3. When the ITC related to discount is reversed by Recepient.
Hence if all the above conditions are fulfilled , the GST Attracts
Recent Threads
- Capital Gains from Cancelled Residential Project
- Import of goods data in IMS
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
Related Threads
CAclubindia
