Accumulation of itc

[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.

AI Summary

GST Refund Denied: Unannounced Discounts Not Eligible as They Must Be Documented Before Supply of Goods. A query was raised regarding the eligibility for a GST refund on unannounced discounts received by a buyer after purchasing cement. The buyer, A, received a cash discount and additional unannounced discounts. Three responses were provided, all agreeing that discounts must be known and documented prior to the supply of goods or services to be considered in the transaction value for GST purposes. Consequently, a GST refund for unannounced discounts is not applicable, as such discounts are not accounted for in the initial transaction value.