Can we reverse the out put tax liability when issuing cash discount?

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..... Can we reverse the out put tax liability when issuing cash discount?
Query (Issue) Started By: - RameshBabu Kari Dated:- 29-8-2017 Last Reply Date:- 29-8-2017 Goods and Services Tax - GST
Got 3 .....

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..... Replies
GST
Q1- Can we reverse the out put tax liability when issuing cash discount? Q2- Can we reverse the output tax liability when issuing credit note? Reply By KASTURI SETHI: The Reply: .....

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..... Not required as discount is allowed from transaction value subject to conditions laid down in Section 15 of CGST Act. Reply By Rajagopalan Ranganathan: The Reply: Sir, Please refer to Section 34 of .....

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..... CGST ACT, 2017 and rule 53 of CGST rules, 2017. Reply By Himansu Sekhar: The Reply: If you issue the credit note, the liability will be reduced only if the receiver reverses the proportionate credi .....

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..... t. Discounts before sale I.e when it is known before supply will not be subject to gst. Kasturi sir and ranganathan sir given the correct view.
Discussion Forum - Knowledge Sharing .....

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