- The 56th GST Council meeting took place in New Delhi on September 3, 2025
- Chaired by Union Finance and Corporate Affairs Minister Nirmala Sitharaman
- Recommendations included changes in GST tax rates and relief measures for individuals and the middle class
- Aimed to facilitate trade in GST
- Issued a circular to clarify issues related to Post Sale Discount
- Addressed non-reversal of Input Tax Credit due to post-sale discount via credit note
- Clarified treatment of post-sale discount as additional consideration in dealer and customer transactions
- Discussed post-sale discount as consideration for promotional activities by dealers
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- Fake GST Invoice Scams Persist Despite Crackdown: Shell Firms, Circular Trading Fuel Tax Evasion
- U.S.-India Trade Deal: A New Era of Economic Cooperation
- Key GST Amendments Proposed in Finance Bill 2026: Discounts, Refunds, Appeals, and SEZ Clarifications
- How to Consolidate Multiple Deliveries into a Single Invoice for Simplified Billing and Payments
- Seven Arrested for Rs 7 Crore GST Fraud Using Fake Firms and Invoices
