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POST SALE DISCOUNT

akel kavade (19 Points)

05 January 2018

If post sale discount received from supplier how to show in the form GSTR 3B

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5 Replies

Mondira Saha (GST) (3925 Points)
Replied 05 January 2018

less from your ITC in next 3b... if tax imtimate on it ...

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Madhukar N Hiregange (Chartered Accountant) (39039 Points)
Replied 05 January 2018

A. Post Sale Discount provided ( as per policy- known at the time of original supply) by the supplier can be of 2 types:

1. Where only the discount is given- gst on that is not considered.- No action enjoy the credit and pay the supplier less to the extent of discount.

2. Where discount with GST is provided in credit note- you would have availed the credit. You need to reverse the credit to the extent of GST on the discount in GSTR 3B when calculating the ITC on basis of credit note date. The supplier will raise credit note with reference to original invoice and upload in gstr1- the recipient will accept. Loop is closed.

B. Discount not as per policy. Then only option 1 above will be available- no impact on GST - cannot be claimed back.

lakshmikant rathi (Student CA IPC / IPCC) (22 Points)
Replied 06 January 2018

Sir, what if assessee gets gst registration certificate on 1st august 2017 and purchased goods are received before date of registration, that is on 25th july 2017 , can the dealer take ITC on those purchases