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GST APPLICABILTIY ON VALUE REDUCTION ( ON PREV SUPPLY), Goods and Services Tax - GST |
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GST APPLICABILTIY ON VALUE REDUCTION ( ON PREV SUPPLY) |
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Dear Sir/Madam, Kindly advise is GST Applicable on Value Reduction ., ( that on previous supplies ) Recipient (Customer ) debited only basic amount (Apr to May22)., As they already passed the amount in higher side & GST Benefit taken on full value. Regards Posts / Replies Showing Replies 16 to 18 of 18 Records Page: 1
Please wait and watch as related issues/litigations are pending at various level.
With all due respect, pending disputes / litigation is hardly a ground - for me - to deviate from my views. This is more so when no legal provision (and interpretation thereof) is presented to explain why ITC needs to be definitely reversed merely because tax-payer supplied some goods / services at a loss. Moreover and as said in my post at serial No. 7 above, once there is no charge of undervaluation (Examples of charge / reason of undervaluation: price is not sole consideration, recipient & supplier being related) or situation is not that of supply of capital goods to be covered u/s 18 (6), even question of demand of differential taxes against outward supply also does not arise. These are strictly personal views of mine and the same should not be construed as professional advice / suggestion. And I fully respect contrary views.
Unwritten Laws = Non-existent laws Page: 1 Old Query - New Comments are closed. |
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