Question ID : 32773

Discount/ vacation trip on meeting targets

There are couple issues which we are unable find the answers to. Could anyone guide us thru the same. 1)Yearly discount (have as part of terms of agreement) provided on the meeting the turnover. No GST credit note is raised. Normal Credit note is raised. Dealer used the credit note to pay his future invoices. Is there any violation of law in terms payment of bill within 180 days. (I knew company cannot take credit of input but is there any impact on dealer.) 2) Vacation trip provided by company to the dealer for achieving target. What is the impact of GST for dealer. 3) Gold coins given away to dealer by the company on achieving the target What is the impact of GST for dealer. Transaction value should be determined by Valuation rules. However, GST impact is NIL either if GST credit note or credit note is raised (if GST credit note is raised, company can claim input credit else not) Trying to find if dealer will face any liability in future on this issue

posted by Sai Ram on Aug 17 2018 12:00AM