Dear sir/madam
INCENTIVE RECEIVED FROM IOC DIRECTLY TO BANK ACCOUNT without impact of GST .
HOW TO DISCLOSE IN GSTR-9 & HOW TO RECONCILE TURNOVER AS AUDITED FINANCIAL STATEMENTS AND GSTR TURNOVER..
THANKS IN ADVANCE
6 Replies
Anup Agarwal
(1184 Points)
Replied 27 January 2020
If incentive is under agreement with supplier that it will be given on a amount of sale etc. it shall be treated as discount.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 28 January 2020
Yes it's Exempted , can report in table 5 of GSTR 9
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