gst on incentives

[kantipudi satyanarayana]

Sir,

Whether incentives received on supply of exempt goods is taxable to GST ie. retail outlet of petrol and diesel.

AI Summary

Clarifying Tax Status: Incentives from Petrol and Diesel Sales as Non-GST Supplies, Report in GSTR-9, Income Tax Implications. A discussion on whether incentives received from the sale of exempt goods like petrol and diesel are taxable under GST. Several participants clarified that petrol and diesel are not subject to GST but fall under the Central Excise Act. Incentives received from such sales are considered non-GST supplies and thus are not taxable under GST. It was noted that these incentives should be reported as non-GST supply in GSTR-9. The discussion also touched on how these incentives should be recorded for income tax purposes, highlighting their classification under other income.