https://www.taxtmi.com/circulars?id=62453 Post-sales discounts are governed by clause (b) of sub-section (3) of section 15 and must be characterised by their true nature: unconditional discounts relate to the original supply and may be excluded from the supplier's value of supply if sub-section (3) conditions are met; discounts conditional on dealer promotional activities constitute consideration for a separate supply of services by the dealer, on which the dealer must charge GST and the supplier may claim input tax credit. Discounts enabling dealers to offer reduced prices to customers must be included in the dealer's value of supply, and receipt of financial/commercial credit notes does not compel the dealer to reverse ITC where the dealer pays the reduced net value and the supplier had charged original tax. en-us Fri, 02 Aug 2019 00:00:00 +0530 Sat, 14 Sep 2019 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62453 Post-sales discounts are governed by clause (b) of sub-section (3) of section 15 and must be characterised by their true nature: unconditional discounts relate to the original supply and may be excluded from the supplier's value of supply if sub-section (3) conditions are met; discounts conditional on dealer promotional activities constitute consideration for a separate supply of services by the dealer, on which the dealer must charge GST and the supplier may claim input tax credit. Discounts enabling dealers to offer reduced prices to customers must be included in the dealer's value of supply, and receipt of financial/commercial credit notes does not compel the dealer to reverse ITC where the dealer pays the reduced net value and the supplier had charged original tax. Circulars GST - States Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62453