IMPACT OF GST ON DISCOUNTS ALLOWED AFTER BILLS ISSUED
Query (Issue) Started By: – ROHIT GOEL Dated:- 13-10-2017 Last Reply Date:- 1-11-2017 Goods and Services Tax – GST
Got 7 Replies
GST
IN A CASE GOODS ARE PURCHASED FOR RS. 100 AND GST OF RS. 12 PAID TO SELLER. SUBSEQUENT TO THIS SELLER ISSUES AN ADDITIONAL DISCOUNT OF RS. 5\/- AGAINST GOODS OF RS. 100\/- BUT THE AMOUNT IS NOT REVERSED THROUGH DEBIT \/ CREDIT NOTES. SELLER SAYS THAT HE WILL NOT ISSUE ANY CREDIT NOTE AND THERE IS NO REQUIREMENT FOR US TO ISSUE DEBIT NOTE IMPLYING THAT GST OF RS. 12\/- IS PAID TO GOVERNMENT TAKING TRANSACTION VALUE OF RS. 100\/- INPLACE OF NET VALUE OF RS. 95\/-.
\nIN SUCH A SCENARIO IF I DEBIT RS 100\/- AS PURCHASE AND REDUCE DISCOUNT OF RS. 5\/- FROM P<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" IMPACT OF GST ON DISCOUNTS ALLOWED AFTER BILLS ISSUED Query (Issue) Started By: – ROHIT GOEL Dated:- 13-10-2017 Last Reply Date:- 1-11-2017 Goods and Services Tax – GSTGot 7 RepliesGSTIN A CASE GOODS ARE PURCHASED FOR RS. 100 AND GST OF RS. 12 PAID TO SELLER. SUBSEQUENT TO THIS SELLER ISSUES AN ADDITIONAL DISCOUNT OF … Continue reading “IMPACT OF GST ON DISCOUNTS ALLOWED AFTER BILLS ISSUED”<\/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-8223","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8223","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=8223"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8223\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n