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GST ON TRADE DISCOUNT

Goods and Services Tax - Started By: - SAFETAB LIFESCIENCE - Dated:- 12-3-2018 Last Replied Date:- 12-3-2018 - Dear Experts, We are giving post- sales Trade Discount to our customers. The GST rate is for our final products is 12% . The customer recei .....

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able in GSTR-3B. Please confirm the GST rate on Discount 18 % is correct or not. Our GST officials are telling it is wrong and we have to put GST only 12%. Please clarify with documentary evidences / notification / GO details like that since our cust .....

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time of the supply if such discount has been duly recorded in the invoice issued in respect of such supply; and (b) After the supply has been effected, if - (i) Such discount is established in terms of an agreement entered into at or before the time .....

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t mentioned on the face of the invoice can be reduced from the taxable value, if following conditions are satisfied: i) Discount is established in terms of an agreement before supply. In simple words, both supplier and recipient are aware and have ag .....

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es Trade discount can be linked to the specific supply invoice then the GST applicable on the Credit note raised would be @ 12% and not 18%. GSTR 1 should mention the credit note details Invoice-wise such that equivalent Input Tax credit is passed on .....

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reverse the ITC on the amount of discount allowed - Such incidents are recorded in Cash Discounts. - Reply By Alkesh Jani - The Reply = Sir, Discounts like trade discount, quantity discount etc. are part of the normal trade and commerce, therefore p .....

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met, namely - (a) discount is established in terms of a pre supply agreement between the supplier & the recipient and such discount is linked to relevant invoices and (b) input tax credit attributable to the discounts is reversed by the recipient .....

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