Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier
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- čas přidán 24. 08. 2024
- Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier
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📢 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]
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Thank you sir
Sir, please tell me the applicability from ehen onwards
Thank you sir for sharing this informative video 👍👍
Good one sir
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
then, need not required
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
I also of the same view
@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?
If get cash discount when payment made then itc reverse
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?
This certificate is required per month or on I may yearly basis
Sir what about credit notes issued to un registered person?
Sir what about the case when financial credit note is issued??
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
Pranaaam sir
Sir, if the suppliers not issued the credit note,but make the adjustment through ledger, now department demanded the tax.