Accumulation of itc

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Accumulation of itc
Query (Issue) Started By: - HEMANTHREDDY ONTEDDU Dated:- 29-12-2017 Last Reply Date:- 7-1-2018 Goods and Services Tax - GST
Got 3 Replies
GST
A buys cement for RS 100. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Gets at cash discount of 10 if he pays in 5 days and some other unannounced discounts. A sold the at ₹ 80 A got cash discount. And also got some other unannounced discounts of RS 20. Can A get .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the gst refund for unannounced discounts. Reply By KASTURI SETHI: The Reply: Discount is allowed from transaction value i.e. prior to payment of GST. It must be known prior to supply of goods or se .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rvices. So situation of refund will not arise. Reply By Ganeshan Kalyani: The Reply: I agree with the opinion of Sri Kasturi Sir. Discount on the face of the invoice and the one which is know before .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... entering into the transaction and that should be supported by agreement with discount clause in it. Reply By subramanian vijayakumar: The Reply: Yes I endorse Sethy sir views
Discussion Forum - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X