My client received a cash discount of Rs.50000/- for early payment of purchases made earlier. I want to know whether GST shall be reversed on purchases made earlier w.r.to discount received portion or not required ??
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Not required.,,,
Pls refer the link for clarification to your query
https://www.taxflora.com/blog/gst-on-trade-cash-discount-and-reversal-of-itc-by-buyer