Can we reverse the out put tax liability when issuing cash discount?

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....an we reverse the out put tax liability when issuing cash discount?<br> Query (Issue) Started By: - RameshBabu Kari Dated:- 29-8-2017 Last Reply Date:- 29-8-2017 Goods and Services Tax - GST<br>Got 3 ....

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....Replies<br>GST<br>Q1- Can we reverse the out put tax liability when issuing cash discount? Q2- Can we reverse the output tax liability when issuing credit note? Reply By KASTURI SETHI: The Reply: N....

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....ot required as discount is allowed from transaction value subject to conditions laid down in Section 15 of CGST Act. Reply By Rajagopalan Ranganathan: The Reply: Sir, Please refer to Section 34 of ....

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....CGST ACT, 2017 and rule 53 of CGST rules, 2017. Reply By Himansu Sekhar: The Reply: If you issue the credit note, the liability will be reduced only if the receiver reverses the proportionate credit....

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..... Discounts before sale I.e when it is known before supply will not be subject to gst. Kasturi sir and ranganathan sir given the correct view.<br> Discussion Forum - Knowledge Sharing ....