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of <h1>Section 153: Supplementary Invoices Required for Price Revisions in Pre-existing Contracts Under Model GST Law 2016</h1> Section 153 of the Model GST Law, 2016, addresses the issuance of supplementary invoices, debit, or credit notes when the price of goods or services is revised due to a pre-existing contract. If the price is increased after the appointed day, the supplier must issue a supplementary invoice or debit note within thirty days, which will be treated as an outward supply under the Act. Conversely, if the price is decreased, a supplementary invoice or credit note must be issued, allowing the supplier to reduce tax liability only if the recipient correspondingly reduces their input tax credit.
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