Goods and Services Tax – Started By: – RameshBabu Kari – Dated:- 29-8-2017 Last Replied Date:- 29-8-2017 – Q1- Can we reverse the out put tax liability when issuing cash discount?Q2- Can we reverse the output tax liability when issuing credit note? – Reply By KASTURI SETHI – The Reply = Not required as discount is allowed from transaction value subject to conditions laid down in Section 15 of CGST Act. – Reply By Rajagopalan Ranganathan – The Reply = Sir, Please refer to Section 34 of CGST ACT,
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