Home Forum Goods and Services Tax - GST Month 12 2017 2017 (12) This
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TRADE DISCOUNT AFTER SALES / DEBIT NOTE / CREDIT NOTES - Goods and Services Tax - GSTExtract Respected Sirs, We are receiving bills for Raw Materials supply from GST registered persons with GST charged bills. After receipt at our end, we found some discrepancies in their GST bill such as Insurance, Freight and Price difference and short supply etc... Shall we raise Debit Note to our suppliers for the taxable value to be deducted + GST ??? We were informed that we do not have rights to raise Debit Note for the goods purchased by us and only the supplier of goods (seller) has to give Credit Note ONLY. Kindly clarify whether we can raise Debit Note or Only seller has to give Credit Note or both are allowed for our debits to be made. Likewise, against our supplies (sales) made, we want to raise Credit Note on Trade Discount to our customers for prompt payments or early payments. This is after sales only and we have not mentioned any Trade Discount in our Tax Invoices. If we raise Credit Note, where GST to be added with Discount amount. If we add GST, party will make payment after deducting Discount+GST amount (that is Credit Note Value). If so, what we have to do in GST portal for GST on discount amount in GSTR-3B. Shall we take back that GST available in Credit Note as ITC. Whether we have to add GST on Discount amount and we can give Credit Note for Discount value only without GST.
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