Tax Connect
madhuvridhi
Tag: discounts
-
Proportionate reversal of input tax credit at his end in respect of such credit note issued by the supplier
Presently, there is no system functionality/ facility available on the common portal to enable the supplier or the tax officer to verify the compliance of the said condition of proportionate reversal of input tax credit by the recipient.
-
Discounts under GST regime
There will be no differentiation in GST between trade and cash discounts. In fact, GST segregates the discounts allowed into two categories: Those given before or at the time of supply, and Those given after the time of supply.