Suppliers MUST DO THIS before issuing Credit Notes or giving discount to buyers| GST NEW CIRCULAR
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- čas přidán 24. 08. 2024
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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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How about financial credit note wherein gst is not required to be reversed
Unnecessary ka compliance hai
Thanks for the update
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.
Welcome back mam