Credit note
Query (Issue) Started By: – AKHIL MITTAL Dated:- 30-4-2018 Last Reply Date:- 2-5-2018 Goods and Services Tax – GST
Got 5 Replies
GST
ARP wants to give quantities discount to its dealers by issuing credit note, Can he do so with out affecting GST/ without reversing GST. If yes, will the income of other party attract GST
Reply By KASTURI SETHI:
The Reply:
Yes, quantity discount can be given by issuing credit note. It is covered under Section 15(3) of CGST ACT, 2017. It is subject to the fulfillment of conditions laid down therein. It should be prior (or at the time of supply) known to the buyer. Also go through Flyer No.15 dated 1.1.18 issued by the Board. Invoice, agreement regarding discount plus books of accounts
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