1) if we purchase goods on may and payment made on aug after deducting discount
we have to issue debitnote or credit against these and tax reversal should be done
2) goods ale on april return on july tax reversal should be done
in our produt no vat is applicable
it simple entry we have to done
or issue debit or credit note and tax reverse should be done
clear my doubt regarding these as purchase and sale both are before gst
GST is charged on supply of goods or services or both. In your case you are discussing about cash discount. Even under earlier laws there was no provision for reversal of taxes against cash discounts.
Trade discounts were eligible for deduction of taxes.
Here you can account these without charging GST and without reversing earlier taxes paid.
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