Ravi SADhiyan
(Practice)
(4510 Points)
Replied 30 July 2020
| Originally posted by : NAVEEN | ||
 |
Is any difference between Discount and Incentive Under GST? Any definition in Gst for incentive ? Is incentive is service attract Gst? |  |
Kindly tells related Service and Goods in which Discount or Incentive are given.
Thanks with Regards
Ravi SADhiyan
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 31 July 2020
| Originally posted by : NAVEEN | ||
|
Electronic goods | |
Difference in Discount and Incentive
1- Discount is give to customer to attract customer for purchase more products. Discount is reduced from total taxable value.
2- Incentive is give to sales person to encourage to sale more product to customer. Incentive as a service consideration to pay sales person .
Kishor Lulla
(993 Points)
Replied 31 July 2020
NAVEEN
(Sr.ACCOUNTANT)
(261 Points)
Replied 31 July 2020
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 31 July 2020
GST can be levied only on a consideration received for a taxable supply of goods or services or both. Since your retail sale of petrol & diesel is out of the scope GST net, incentives received by you are against Non-GST supply. Hence such incentives are also not taxable under GST
CAclubindia
