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NAVEEN (Sr.ACCOUNTANT) (261 Points)

28 February 2018

How trade discount is treated in GST is it a service item .
what is the SAC
cod and what is the tax applicable

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9 Replies

pankaj (a) (1262 Points)
Replied 28 February 2018

trade discount is simply reduced from value.

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Mahesh Rao (66 Points)
Replied 28 February 2018

reduced from value

Mahesh Rao (66 Points)
Replied 28 February 2018

simply

RAJA P M ("Do the Right Thing...!!!") (128085 Points)
Replied 28 February 2018

Trade Discount is directly account to the Party. GST not applicable.

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Alok Sharma (52 Points)
Replied 01 March 2018

Section 15 of the CGST Act and
Determination of Value of Supply, CGST Rules, 2017 contains provisions related to valuation of supply of goods or services.

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Alok Sharma (52 Points)
Replied 01 March 2018

Discounts like Trade discount, Quantity discount etc. are part of normal trade and practice. So, these are allowed to be excluded while determining taxable value.