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"
- FCIK Calls on Government to Grant Power and VAT Amnesties for Industrial Units
- Transfer Pricing and GST: Understanding Related Party Transactions and Arm’s Length Principle in India
- GST Exemption on Insurance: Has 18% Tax Cut Reduced Premiums for Policyholders? Government Responds
- GST on Mining Lease Royalty: Classification, Applicable Rate, and Reverse Charge Mechanism Clarified
- CESTAT: Software Preloaded in Imported Hardware Includible in Customs Value, No Penalty on Wipro
