hi, please help to get this point, we manufactured goods with MRP and sale to the distributors, we get input tax and pay outward liability accordingly. At this point all is good.
After-sale distributors used goods as samples and expiry goods returned to us, we issued credit note to the distributor with gst. Now after the credit note issue we need to reverse input on it or not.
if yes, then how do we calculate reversal input, our purchase is 18 and 12 % and the sale gst is 28%.
4 Replies
Imthias ahamed Kormath
(910 Points)
Replied 22 March 2022
U Supply goods with MRP,u collected gst on MRP,u issued credit not,disributer prepare debit note with gst as per ur credit note.No problems.
If a sales depot in manufacturing unit, transfer the same with debit note , issued credit note against u by sales depot.
If a sales depot in manufacturing unit, transfer the same with debit note , issued credit note against u by sales depot.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 22 March 2022
Since you have received expired products which you will destroy or writeoff ITC will have to be reversed proportionately as per GST rules
SUMIT BADYAL
(709 Points)
Replied 23 March 2022
Not in pharmaceutical, we are dealing in the beverage.
in the case of sampling, do we also need to reverse the input?
and how do we calculate the input reverse amount?
in the case of sampling, do we also need to reverse the input?
and how do we calculate the input reverse amount?
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