How to claim receipt of business promotion expenses to be filed as exemption under GST
Query (Issue) Started By: – Usha RaoJ Dated:- 15-9-2018 Last Reply Date:- 27-10-2018 Goods and Services Tax – GST
Got 3 Replies
GST
We have received incentive on sales from our principles. Also, during final calculation, our principals debit from the sales achieved, the amount in proportion to the percentage of incentive received. ( Say, if 10 lakhs is the sales incentive ( over and above normal operating discounts), this amount will be reduced to the extent in the subsequent year. Our Auditors say that this payment credit received to our account is taxable under GST and we are liable to pay now. When we enquired with our principals, they sai<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n hence if he get or does not get input he is safe, as the Liability to discharge GST on the said “Business Promotion – Revenue (From agents angle) is always on agent and not on principle = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" How to claim receipt of business promotion expenses to be filed as exemption under GST Query (Issue) Started By: – Usha RaoJ Dated:- 15-9-2018 Last Reply Date:- 27-10-2018 Goods and Services Tax – GSTGot 3 RepliesGSTWe have received incentive on sales from our principles. Also, during final calculation, our principals debit from the sales achieved, … Continue reading “How to claim receipt of business promotion expenses to be filed as exemption under GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13757","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13757"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13757\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nHence either issue and Debit Note for taxes (Against CN As being received from Principle or Its better to Raise Invoice and File GSTR 1)\/ GSTR 3B
\nIn GST Even on Free Supplies (FOC Sales) GST is levied and hence the above transaction (Be it any nomenclature) is subject to GST.
\nOthers Comments Highly Appreciable.
\nReply By DR.MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nIf any discount and incentives are given in the course of business, there shall be an agreement between them in this regard. If it is so the same should be indicated in the invoice. In such cases GST<\/p>\n
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