GST Reporting of discount earned by Bank on LC / Bill of Exchange

By | June 8, 2017
(Last Updated On: June 8, 2017)

If discount earned on lending by a bank by way of discounting of LC/ Bill of exchange/ invoice, need reporting in GST return?

Yes. Exempted and Non-GST outward supplies are required to be reported at Table 8 of GSTR-1.

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GST Reporting of discount earned by Bank on LC / Bill of Exchange

 

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