GST valuation is dependent on discount vs incentive

GST valuation vis a vis discount & incentive. A huge number of taxpayer is calculating the GST value reducing the discount which dont even qualify as a discount. That may be an incentive. If it is an incentive. This video is about Discount Vs Incentive in GST. It may have a huge impact on taxpayers and a new liability may arise at the time of assessment.
- You cant reduce it from the valuation for the purpose of GST
- You will have to pay tax on it.
- it will be a part of your income.
I have discussed many examples and industry practices related to discount. In many scenarios it will be an incentive. In some cases it may have been deducted from value. But actually it was required to be deducted from the GST valuation. CBIC has also clarified this issue via their circular on 28th June 2019.
Be ready for a shock this video may give you. Additional liability may incur and may hurt you or your clients.
Watch this video for:
- GST incentive
-GST valuation
-GST discount
-GST liability
-CBIC clarification

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ConsultEase does not agree or disagree with the views expressed in the video.

This video is merely a general guide meant for learning purposes only. All the instructions, references, content or documents are for educational purposes only and do not constitute a legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax or professional advisors as to the risks involved may be obtained and necessary due diligence, etc may be done at your end.

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