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of <h1>Understanding GST: Credit Notes for Returned Goods Under Section 34; Aligning Supplier and Recipient Tax Adjustments</h1> Section 34 of the Goods and Services Tax (GST) provisions addresses the tax treatment of goods returned by the recipient. When goods are returned, the supplier, a registered person, can issue a credit note to the recipient with specific details. This credit note must be declared in the supplier's monthly returns by September of the following year or the date of filing the annual return, whichever is earlier. The credit note details must match the recipient's reduction in input tax credit claims, and the supplier's output tax liability reduction must correspondingly match the recipient's claim for input tax credit reduction.
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