Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier

Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier
__________________________________________________
📢 CBIC issued Circular on Mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, by the suppliers [Circular No.-212/6/2024-GST]
✔️ Read More at: www.a2ztaxcorp...
__________________________________________________
🌟 🚀 Exclusive GST Update Package on Real time basis, by A2Z Academy, led by CA (Adv) Bimal Jain
🌟 Simplest way to keep ahead in the World of Knowledge🌟
🔰 Join Now: www.a2ztaxcorp...
🚀 Quick GST & Other Updates:
Stay on top of GST and Income Tax news without any hassle. We bring the latest changes and important info directly to you, so you’re always ahead.
📜 Access to Important Documents:
Find every official GST and Income Tax documents you need, all in one place. It’s like having your own library of tax documents, just a click away.
🎓 Join Free of Cost GST Webinars:
Be the first to join free online GST webinars by CA (Adv) Bimal Jain. These webinars cover all aspects of GST, helping you become a GST pro.
📰 Weekly GST Newsletter:
Every week, we send out a detailed newsletter packed with updates on GST, Income Tax, Customs, and more. It’s your weekly dose of tax wisdom, straight to your inbox.
🎥 Watch latest GST Videos anytime:
Learn about GST through our easy-to-watch video updates. These videos make complex tax topics simple and fun to learn.
🔔 Direct Alerts for New Updates:
Never miss an important update again. We send direct alerts for every new notification, circular, or press release, etc., so you’re always the first to know.
🌐 Join Us for a Smarter Way to Learn About GST
Our Premium Subscription is more than just updates; it’s your ticket to a clearer understanding of taxes. Whether you’re an experienced professional or just starting to learn, this subscription is your guide to tax knowledge and resources.
🌟 Complete Financial Year Subscription (2024-25)
This Exclusive GST Update Package on Real time basis is available for this Financial Year from April 2024 to March 2025
Subscribe Now and Make Learning About Taxes Easy and Convenient.
___________________________________________________
📍 For any query related to GST write back to us at:
[e-mail]
👉🏻 Download Our Free GST Android App:-
🔹 play.google.co...
👉🏻 Regular and up to date GST updates are now available on WhatsAap Channel & Telegram Channel of A2Z TAXCORP LLP as well:-
🔹 Join our channel at - whatsapp.com/c...
🔹 Join our Channel at - t.me/a2ztaxcor...
🔰 Connect with us on Facebook, Twitter, etc.
🔹Facebook Bimal Jain :- / bimal.jain.90
🔹Facebook A2Z Taxcorp LLP :- / a2ztaxcorpllp
🔹LinkedIn Bimal Jain :- / bimal-jain-4b460114
🔹LinkedIn A2Z Taxcorp LLP :- / a2z-taxcorp-llp
🔹CZcams :- / @cabimaljain
🔹Twitter :- / bimalgst
🔹Koo App :- www.kooapp.com...
🔹Instagram :- / cabimaljain

[@Kishore39759]

Thank you sir

[@WorldHistoricalTrails]

Sir, please tell me the applicability from ehen onwards

[@rohittripathi3947]

Thank you sir for sharing this informative video 👍👍

[@amitmukherjee2527]

Good one sir

[@mvnagesh3609]

Sir, even vendor not issued, based on quality or short receipt, we are reversing ITC portion month on month. Again we can't reverse based on credit note issued by vendor in latter date if any

[@cabimaljain]

then, need not required

[@omkarnathkaja300]

Sir if the seller uploads credit note automatically it will become buyers liability in 3b of buyer then it is the duty of the buyer to discharge his liability not the tension of seller. It is the duty of dept to get the amount realisted along with interest charged for delay.. so there is no need to cross check but law said to check. Why we don't know

[@gsttalk]

I also of the same view

[@cawithdeepak]

@cabimaljain Sir what is the recourse to a businessman who has paid output tax on invoice and subsequently the debt becomes bad? Credit note or any case law?

[@tarundas4969]

If get cash discount when payment made then itc reverse

[@cacvsuryam3820]

Sir, almost for the last about one year, ITC is being autpopulated into 3B of recipient net amount only (after adjusting tax on CNs). Hence, is it so that this circular is beneficial for past cases?

[@prakashvankhede6354]

This certificate is required per month or on I may yearly basis

[@atulpuranik8506]

Sir what about credit notes issued to un registered person?

[@rahultrivedi4613]

Sir what about the case when financial credit note is issued??

[@ayushgoel8022]

Thanks Sir for sharing this.
I have a question regarding this, I believe this circular is only applicable when the supplier has reversed it's output tax liability.
Will it also make a impact where the supplier has not reduced it's liability and the buyer has not reduced it's ITC

[@ashokktekuru4640]

Pranaaam sir

[@anandmohan1556]

Sir, if the suppliers not issued the credit note,but make the adjustment through ledger, now department demanded the tax.