The fast-moving consumer goods (FMCG) industry has petitioned the government to remove goods and services tax on the amount received by dealers and retailers as reimbursement against discounts and for promotional programmes to boost sales. A circular issued by the government in end-June had said the amount received by a dealer from a supplier to sell a product at a special reduced price would be liable to GST, adding to the industry’s woes.
Source: A2Z Taxcorp LLP
Latest Posts in "India"
- GST on Dine-in, Takeaway, and Delivery App Orders: Rates, Compliance, and Reporting Differences
- Ensuring ITC Compliance: Mastering GSTR-2B Reconciliation and Audit Readiness for 2026
- India’s E-Invoicing Rules: Scope, Formats, Penalties, and Compliance Under the GST Framework
- Continuous Supply of Services Under GST: Legal Criteria Versus Commercial Practice Explained
- Tripura HC: ITC Cannot Be Denied to Bona Fide Purchaser for Supplier’s Tax Default
