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Reversal of GST liability on LD Deducted by Buyer
Sir, I sold goods worth Rs. 1Lakh and buyer deducted LD Rs. 10000 on payment against delayed supply, shall I reverse my tax liability by decreasing sales value for LD amount or what will be the treatment.
Replies (2)
Payment received and sales made both are different things
So, sales is to be shown as full value of 1 lakh
LD should be reported separately
So, sales is to be shown as full value of 1 lakh
LD should be reported separately
Good clarification like it
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