WE ARE GETTING CREDIT NOTES FOR DISCOUNTS/RATE DIFFERENCES FROM OUR SUPPLIER LIKE SAIL, HZL AND ESSAR WITHOUT GST. WE WANT TO KNOW WHETHER DURING THE TIME AUDIT THE DEPARTMERNT ASK US TO REVERSE THE GST.
THANKS IN ADVANCE
3 Replies
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 18 March 2019
No, department won't ask you to reverse it, however, please be sure that such discount is not in the nature of commission, if so, then you have to pay GST on the same
pritesh
(CA Final student)
(7101 Points)
Replied 19 March 2019
But for rate difference they should issue a credit note with gst...for discount it is ok.
Raja
(Accountant)
(97 Points)
Replied 21 November 2019
How do you differentiate between "Rate difference" & "Discount"??
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