Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Central Goods and Services Tax amendment clarifies post-supply discounts via credit notes; requires recipient to reverse corresponding input tax credit.</h1> Amends section 15(3)(b) of the Central Goods and Services Tax Act to treat post-supply discounts as effective only where the supplier issues a credit note and the recipient reverses the input tax credit attributable to that discount. The amendment links valuation adjustment for discounts after supply to the credit note mechanism and to the recipient's reversal of input tax credit in accordance with the law, thereby clarifying when transaction value is reduced and when input tax credit recovery must occur; consequence: post-supply discounts will reduce taxable value only upon these specified actions.
TaxTMI 
TaxTMI 
