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of <h1>GST Law Proposal: Simplify Year-End Discount Refunds with CA Certification; Adjust ITC and Output Liability for Credit Notes.</h1> Suppliers often provide year-end or volume-based discounts through credit notes, a practice that has been misused, leading some states to restrict Input Tax Credit (ITC). To address this, the GST Law should include provisions allowing such discounts, with a refund process initiated by a simple application and a Chartered Accountant's Certificate confirming no GST burden was passed on. A threshold may allow self-certification. Eligibility for ITC and output liability will be adjusted based on credit and debit notes. The GST Network (GSTN) should validate these transactions, ensuring proper matching, and refunds may pertain to CGST, SGST, or IGST.
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