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IMPACT OF GST ON DISCOUNTS ALLOWED AFTER BILLS ISSUED

Goods and Services Tax - Started By: - ROHIT GOEL - Dated:- 13-10-2017 Last Replied Date:- 15-10-2017 - IN A CASE GOODS ARE PURCHASED FOR RS. 100 AND GST OF RS. 12 PAID TO SELLER. SUBSEQUENT TO THIS SELLER ISSUES AN ADDITIONAL DISCOUNT OF RS. 5/- AGA .....

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TRANSACTION VALUE OF RS. 100/- INPLACE OF NET VALUE OF RS. 95/-.IN SUCH A SCENARIO IF I DEBIT RS 100/- AS PURCHASE AND REDUCE DISCOUNT OF RS. 5/- FROM PURCHASES MAKING IT NET AT RS. 95/-. CAN I WILL BE ELIGIBLE FOR GST INPUT OF RS. 12/- OR IT WILL BE .....

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Reply By KASTURI SETHI - The Reply = Dear Querist,. Read Section 15 (3) of CGST Act, 2017 for admissibility of discount. If you fulfill these condition discount is allowed. - Reply By Rajagopalan Ranganathan - The Reply = Sir,If the supplier claims .....

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