Post-sale discounts governed by credit note issuance and recipient reversal of input tax credit under credit-note provisions. Substitutes clause (b) of section 15(3) to provide that, where a post-sale discount is effected after supply, the supplier's issuance of a credit note and ... Summary
Post-sale discounts governed by credit note issuance and recipient reversal of input tax credit under credit-note provisions.
Substitutes clause (b) of section 15(3) to provide that, where a post-sale discount is effected after supply, the supplier's issuance of a credit note and the recipient's reversal of input tax credit in accordance with the credit-note provisions will govern adjustment of taxable value, removing the previous requirement for an agreement specifically linked to relevant invoices.
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