Discounts in GST Regime
JOHN BOSCO NIRMAL RAJ (Sr. Manager- Taxation in Shriram Group) (32 Points)
27 June 2017
what will be the transaction value when there is discounts
JOHN BOSCO NIRMAL RAJ (Sr. Manager- Taxation in Shriram Group) (32 Points)
27 June 2017
natarajan
(SM - Audit & Taxation)
(156 Points)
Replied 27 June 2017
Dear sir,
Discount offered in the invoice will not form part of the Transaction value; Meaning, the Gross Inv value Rs. 100000 and you have offered discount in the invoice Rs. 5000, then on Rs. 95000 only you have pay GST.
Under GST, Post sale discounts also eligible to reduce the GST Liability but few conditions of the contracts to be very clear to avail such discount.
hope it is clear
Vinay Garg
(Student cum businessman cum professional)
(859 Points)
Replied 27 June 2017
JOHN BOSCO NIRMAL RAJ
(Sr. Manager- Taxation in Shriram Group)
(32 Points)
Replied 28 June 2017
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