TMI Bloggst on incentivesX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir, Whether incentives received on supply of exempt goods is taxable to GST ie. retail outlet of petrol and diesel. - Reply By Rajagopalan Ranganathan - The Reply = Sir, It is for your information that petrol and diesel are not under GST. - Reply By praveenkumar mekalacheruvu - The Reply = If you don't mine, can you elaborate the situation like which type of Incentives will derive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on suppl of exempt of goods? - Reply By Ganeshan Kalyani - The Reply = The benefit on exempted goods is that one does not pay GST on outward supply, no e-way bill is required to be generated on movement of goods, filing of GSTR 1 is easy, 2A reconciliation is not required, if exempted goods is exported then corresponding input tax credit is allowed etc. - Reply By Rajagopalan Ranganathan - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Reply = Sir, In respect pf petroleum products like petrol and diesel provisions of Central Excise Act, 1944 is applicable and not provisions of GST Act . - Reply By KASTURI SETHI - The Reply = GST can be levied only on a consideration received for a taxable supply of goods or services or both. Since your retail sale of petrol diesel is out of the scope GST net, incentives receiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by you are against Non-GST supply. Hence such incentives are also not taxable under GST. Example ; Agriculture produce is exempt supply. Commission earned by the commission agent against such supply is also exempt. Held by AAR, Haryana reported as 2019 (26) GSTL/337 (AAR) GST IN RE : BHAKTAWAR MAL KAMRA SONS = 2018 (8) TMI 1859 - AUTHORITY FOR ADVANCE RULING - HARYANA In the 115th A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mendment Bill alcoholic liquor for human consumption and five petroleum products namely crude petroleum, high speed diesel, motor spirit or petrol, aviation turbine fuel and natural gas were kept out of GST . - Reply By Himansu Sekhar - The Reply = Incentives are for sale of excisable hoods. More sale, more incentive. Since the supply is not taxable under sec 9(2) of CGST Act , the incen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive is also not taxable. Moreover it is not a separate supply other than the principal supply. Also not a service - Reply By Rajendra Prasad - The Reply = Dear Himansu Ji, Please clarify - 1. Incentives received from the petroleum Company toward achieving the sales target is outward supply for the retailer . 2. In the Income Tax Return , Incentives are received are shown under other i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome . Then in GSTR 9 / 9C , am I required to show it under outward supply or under which column . Thank you for sparing your valuable time. - Reply By KASTURI SETHI - The Reply = In GSTR-9 Table 5(F) to be shown against column non-GST supply. - gst on incentives - Query Started By: - kantipudi satyanarayana Dated:- 21-10-2019 Goods and Services Tax - GST - Got 8 Replies - GST - D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iscussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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