https://www.taxtmi.com/circulars?id=61248 Clarifies GST taxability, valuation and Input Tax Credit (ITC) treatment of sales promotion schemes: free goods without consideration are not a supply except as per Schedule I (and attract ITC denial for inputs used unless treated as supply); 'buy one get one' is treated as multiple supplies priced together with tax determined by composite/mixed supply rules and ITC allowable; pre-established invoice discounts can reduce taxable value if statutory conditions are met, while post-supply commercial credit notes do not reduce taxable value unless conditions are satisfied. en-us Fri, 17 May 2019 00:00:00 +0530 Fri, 31 May 2019 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61248 Clarifies GST taxability, valuation and Input Tax Credit (ITC) treatment of sales promotion schemes: free goods without consideration are not a supply except as per Schedule I (and attract ITC denial for inputs used unless treated as supply); 'buy one get one' is treated as multiple supplies priced together with tax determined by composite/mixed supply rules and ITC allowable; pre-established invoice discounts can reduce taxable value if statutory conditions are met, while post-supply commercial credit notes do not reduce taxable value unless conditions are satisfied. Circulars GST - States Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61248