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ITC REVERSAL(GST)

SAMPLE TAX INVOICE........Seller(A) Buyer (B
Item ABCD 100 nos.@Rs.100/-each......10,000.00
Add GST 18% ...... 1,800.00
TOTAL ....... 11,800.00
Less Volume Discount..Rs.10/-per No.....1000.00
Grand Total (Nett Payble Amount) 10,800.00
(B)pays Rs.10,800.00 to A...A does not reduce his OUTPUT TAX LIABILITY and deposits the full GST amount of Rs.1800.00 to the Exchequer...Which is also confirmed on GSTR 2A/B..Whether(B)has to reverse ITC on Rs.1000.00 .(Seller has to bill the Invoice on prices fixed by the Principal Company...and he offers the volume Discount on his own..)......

THANKS

29
Apr

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30 Apr