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TMI BlogCREDIT NOTE IN GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... CREDIT NOTE IN GST X X X X Extracts X X X X X X X X Extracts X X X X ..... ve Reply By KASTURI SETHI: The Reply: Serial No1 and 2 fall under the category of post-sales discount. The assessee will have to conform to the conditions laid down under Section 15(3)(b) of CGST Act and serial no.3 & 4 fall under promotional schemes. These are incentives and taxable. Reply By Amit Agrawal: The Reply: Wherever any of these financial credit-notes are in nature of post-sale disc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount (which includes Early Payment & Turnover Discount), conditions laid down under Section 15(3)(b) of CGST Act will comes into play as rightly observed by Ld. Shri Kasturi Sethi Ji. However, even if they in nature of post-sale discount confirming the conditions laid down under Section 15(3)(b)(i) of CGST Act, issuance of credit-note with GST u/s 34 (1) is optional at end of the supplier. Moreo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver, gst cannot be levied upon buyer for any 'post-sale discounts' received from supplier, irrespective of whether the conditions laid down under Section 15(3)(b) are fulfilled or not. In my humble view, without going through entire agreement and arrangement between OEM / supplier and distributor / buyer about these promotional scheme/s, it is not possible to answer this query with regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to Point no. 3 (i.e. Selling the purchased goods at a discount to retailer) & 4 (i.e. Other Incentive). These points (No. 3 & 4) are constant areas of dispute between assessee and Department where 'mutuality of business interest' between supplier / OEM and buyer / distributor is bone of contention. These are strictly personal views of mine and the same should not be construed as profes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sional advice / suggestion. I respect contrary views. X X X X Extracts X X X X X X X X Extracts X X X X
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