Become Govt. Certified GST Practitioner in just 58 hrs. Register Now!

Gst RCM

sunil barad (student) (87 Points)

14 August 2017

GST IS Applicable on cash discounts given if it exceeds ₹5000. RCM applicable???

Reply
Follow
Share

4 Replies

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 15 August 2017

first of all I cannot see any possibility of rcm being involved in cash discount......

can you give me little detail of the type of transaction you are talking about?

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sunil barad (student) (87 Points)
Replied 23 August 2017

suppose goods supplied for Rs 500000, debtors paid 490000 , than 10000 is cash discount,

sunil barad (student) (87 Points)
Replied 23 August 2017

gst to be charged on 10000 under reverse charge

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 24 August 2017

if discount given at the time of issuing of invoice itself than there will be no gst on discount.....but if discount given on a date latter than the issue of invoice (and there is no prior agreement for such discount) than gst is leviable....but if there is prior agreement for discount than no gst..