Siddaraju S Krishnappa
(GST Expert)
(190 Points)
Replied 28 June 2019
In GSTR 9 – under 4I
In GSTR 9C – Show net off value
Aditi
(Articles)
(169 Points)
Replied 28 June 2019
I have received discount from my supplier in the form of financial credit note. It is shown in my P and L account in the income side as Discount received Rs 1,50,000/-. I believe that this amount will not appear anywhere in GSTR 9. In GSTR 9C I start by showing the total of the entire income side (Sales Rs 2 Crores + Discount received Rs 1,50,000/-) and include a negative figure in PT. II (5) (O) for Rs 1,50,000/-... Is this correct?
Siddaraju S Krishnappa
(GST Expert)
(190 Points)
Replied 28 June 2019
Now you are correct sir
In GSTR 9, there will be no effect on details of taxable turnover
under 9C shall be disclosed
I have understood regular credit note - this can be either trade discount or quantity discount - will have no impact on GSTR 9
only have impact on GSTR 9C since you are showing total income which include discount received
What you are following is correct
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
