Issue of supplementary invoices, debit or credit notes where price is revised in pursuance of a contract
Section 178
Bill
TRANSITIONAL PROVISIONS
MODEL GST LAW – Draft The Central / State Goods and Services Tax Act, 2016 – [November 2016]
178. Issue of supplementary invoices, debit or credit notes where price is revised in pursuance of a contract
(1) Where, in pursuance of a contract entered into prior to the appointed day, the price of any goods and/or services is revised upwards on or after the appointed day, the registered taxable person who had removed/provided such goods and/or services may issue to the recipient a supplementary invoice or debit note, containing such particulars as may be prescribed, within thirty d
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2) Where, in pursuance of a contract entered into prior to the appointed day, the price of any goods and/or services is revised downwards on or after the appointed day, the registered taxable person who had removed / provided such goods and/or services may issue to the recipient a supplementary invoice or credit note, containing such particulars as may be prescribed, within thirty days of such price revision and for the purposes of this Act such supplementary invoice or credit note shall be deemed to have been issued in respect of an outward supply made under this Act:
PROVIDED that the said registered taxable person shall be allowed to reduce his tax liability on account of issue of the said invoice or credit note only if the recipient o
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