Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

GST on Debit Note, Goods and Services Tax - GST

Issue Id: - 116476
Dated: 13-6-2020
By:- Kaustubh Karandikar
GST on Debit Note

  • Contents

XYZ Ltd. are procuring material from local supplier against advance license invalidation letter. XYZ are getting benefits from supplier against invalidation viz.

1) Cash discount for immediate payment

2) Invalidation benefit of ₹ 4.5 per kg

3) Rate difference between PO rate and Market rate as on date of supply (This can be receivable or payable).

XYZ will be issuing Debit Note to the supplier for getting these benefits. Is XYZ required to pay GST on the debit note amount?

Post Reply

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 13-6-2020
By:- YAGAY andSUN

In GST Regime, supplier of the goods/service is authorized to issue Credit/Debit Notes to the Customer. Please check the provision. If your suppliers charge GST on Debit Note then you have to pay it.

on point 1 No GST is applicable. On point no. 2 & 3 GST can be charged by your supplier.


2 Dated: 13-6-2020
By:- Ganeshan Kalyani

Sir, the benefits as mentioned in points 1, 2 & 3 corresponds to original supply. So, to adjust the supply the supplier will issue credit note to the buyer. The supplier can issue credit note with GST or without GST. If he raises credit note with GST, he has to fulfill certain conditions. Thanks.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||