Suppliers MUST DO THIS before issuing Credit Notes or giving discount to buyers| GST NEW CIRCULAR

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Understanding how the complainces of supplier has increased due this CIRCULAR NO. 212 dt. 26th June 2024.
53rd GST Council Meetings has come with lot of welcome changes , one such changes is notified through this circular which provides that supplier shall require a certificvate from the recipient or his CA/CMA for the ITC Reversal in case of post sale discount or credit notes.
Beware & be very selective while choosing your recipient.
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*Disclaimer*
1. This video is for creating awareness about the newly introduced tax reform GST.
2. Here Tax without tears (TWT) team does not intend to advertise/solicit clients & doesn’t take responsibility for any decisions taken on the basis of this video.
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[@manojsaraogi762]

How about financial credit note wherein gst is not required to be reversed

[@devkumar6146]

Unnecessary ka compliance hai

[@prithvirajmudappu3717]

Thanks for the update

[@aditierpconsultancy7124]

How will the Portal know whether Credit Note is for Sales Return or Discount. In both situations credit note is issued. One can at the max ask for a corresponding Debit note which will show that the purchaser has reduced the ITC at his end.

[@kirondeb8898]

Welcome back mam