If a recipient of service deducts as penalty from the contract price of supplier for providing below quality goods,but accepted the goods due to urgency,So, here GST will be charged on amt after deducting penalty or whole contract price?
If a recipient of service deducts as penalty from the contract price of supplier for providing below quality goods,but accepted the goods due to urgency,So, here GST will be charged on amt after deducting penalty or whole contract price?
Penalty Means Reduce the Contarct Bill
So he ahs to Reduce the Input GST Credit By way of Debit & credit Note
please elaborate
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
