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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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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