turnover discount
imran (article) (91 Points)
11 May 2019
if any one giving turnover discount (target sales) should be issue credit note with gst or without gst
4 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 11 May 2019
As per Circular 92/11/2019, Dt. 7/3/2019 can be issued without GST
CA Haritha Komma
(Chartered Accountant)
(1147 Points)
Replied 11 May 2019
Issuance of credit note with GST is not mandatory..
If supplier wishes to adjust GST liability to the extent of discount - should issue credit note with GST and recipient need to reverse credit.
If supplier do not want to adjust GST liability - credit note can be issued without GST (financial credit note as per said circular)
Recent Topics
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
Related Threads
CAclubindia
