Discount 100% can be deemed supplies

In case where few items sold @ 100% discount along with other supplies. This 100% discount is borne by the entity and not pass on.

This discount can be a deemed supply as the customer is not paying any consideration and getting item as FOC Or the final consideration is taxable after this discount?

Nusrat Abbas

21/06/2021 11:54:14

0 Like 0 Reply Report Share

Replies

SAJITH N21/06/2021 12:45:51

If the FOC is provided along with other items for which consideration is charged, it can be treated as if that consideration includes the value of these FOC items and the discount can be reduced from the taxable value. It should not constitute a deemed supply.

0 Like

Reply :

Login to reply. click here

Q&A

You can also submit your query / question

Submit Query

Discount 100% can be deemed supplies

Replies

Q&A

Get latest updates from GccFinTax.com

GCC FinTax