discounts in gst, Goods and Services Tax - GST

[giri gattupalli]

respected sir

whether turnover discounts and cash discouts can be issued to aretailer by whole saler with out effecting gst or not pleases discuss

thanking you

Posts / Replies

[KASTURI SETHI]

Yes, you can. First calculate tax on transactional value (assessable value) in full and, thereafter, give/compute discount. In this way, both discounts will be from your pocket. Govt. is concerned with full tax. A problem arises only when you reduce the taxable value of outward supply by way of discount from transactional value.

[Ganeshan Kalyani]

I agree with the views of Sri Kasturi Sir. The charging of GST on credit note is optional.