Accumulation of itc, Goods and Services Tax - GST

[HEMANTHREDDY ONTEDDU]

A buys cement for RS 100. Gets at cash discount of 10 if he pays in 5 days and some other unannounced discounts. A sold the at ₹ 80 A got cash discount. And also got some other unannounced discounts of RS 20. Can A get the gst refund for unannounced discounts.

Posts / Replies

[KASTURI SETHI]

Discount is allowed from transaction value i.e. prior to payment of GST. It must be known prior to supply of goods or services. So situation of refund will not arise.

[Ganeshan Kalyani]

I agree with the opinion of Sri Kasturi Sir. Discount on the face of the invoice and the one which is know before entering into the transaction and that should be supported by agreement with discount clause in it.

[subramanian vijayakumar]

Yes I endorse Sethy sir views