Credit Note as per section 34 of CGST 2017
Query (Issue) Started By: – saravanan rengachary Dated:- 12-9-2017 Last Reply Date:- 25-9-2017 Goods and Services Tax – GST
Got 3 Replies
GST
Hi,
\nCustomer has deducted 2% on total invoice value towards late supply (Liquidity Damage). Can we issue Credit Note and adjust the tax liability.
\nregards
\nsaravanan.
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAccording to Section 34 (1) of CGST Act, 2017 "where a tax invoice has been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or where the goods supplied are returned by the recipient, or <\/p>\n
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