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GST on Discount, Goods and Services Tax - GST |
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GST on Discount |
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Kindly clarify whether we required any ITC reversal to the extend of discount received. Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
If there is an agreement between the parties as to the discount then GST is not attracted for such discounts. The invoice shall indicate the nature of discount.
Reversal of ITC is required in view of the scenario explained by you.
Also go through the latest decision of AAR, Tamil Nadu reported as 2019 (3) TMI 928 - AUTHORITY FOR ADVANCE RULING, TAMILNADU Applicant : MRF Ltd. Decided on 22.1.19. Page: 1 Old Query - New Comments are closed. |
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