Guidelines for Verifying GST Compliance on Post-Supply Discounts Using Tax Credit Notes Outlined in New Circular.
Circulars
GST
The Circular addresses the mechanism for verifying compliance with Section 15(3)(b)(ii) of the CGST Act, 2017 by suppliers offering discounts through tax credit notes post-supply. It clarifies that such discounts can be excluded from taxable value if conditions are met, including the recipient's reversal of input tax credit. As no portal functionality exists fo
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