Refund for incentive credit notes: procedural refund on proof of non passing of GST burden with GSTN matching and reversals. Refunds for year-end or volume-based incentives issued through credit notes require a simple application with a Chartered Accountant's certificate (or ... Summary
Refund for incentive credit notes: procedural refund on proof of non passing of GST burden with GSTN matching and reversals.
Refunds for year-end or volume-based incentives issued through credit notes require a simple application with a Chartered Accountant's certificate (or self-certification below a prescribed threshold), simultaneous adjustment of buyer Input Tax Credit and supplier output liability via matching credit and debit notes, and GSTN validation including reversal on mismatch, with refunds permitted under CGST, SGST or IGST as applicable.
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