Goods and Services Tax – Started By: – Manjunath S – Dated:- 25-8-2018 Last Replied Date:- 1-9-2018 – Dear Experts,We are a registered Manufacturers in Karnataka,In July 2018, We Purchase a Machinery spares by paying IGST, after installation of that spares, it is get damaged within10 days, but actual warranty for that material is 1 year.We intimated the supplier and he agreed to give replacement, and he told us to scrap that material since it is UnRepairable/Exposed.Now he is supplying New Material with Another Tax invoice with IGST and giving Credit Note only for the Basic Amount for the rejected material.My Query is:a) Is this Procedure is correct ?b) Is it require to reverse IGST Credit availed from us for the rejected material ? but su
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ervices or both shall declare the details of such credit note in the return for the month during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in such manner as may be prescribed: Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person. Therefore in your case since Machinery spares were supplied by paying IGST the incidence of IGST had already been passed on to you and you could have availed ITC of the same. Ther
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