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of <h1>GST Circular Clarifies Taxpayer Challenges: Credit Notes for Cancelled Contracts, Extended Deadlines to June 30, 2020.</h1> The circular addresses challenges faced by taxpayers in implementing GST provisions, offering clarifications to ensure uniformity. It covers scenarios such as cancelled service contracts where GST was paid on advances, indicating that credit notes should be issued and tax liabilities adjusted accordingly. For goods returned, similar procedures apply. The extension of deadlines for compliance, including filing of Letter of Undertaking (LUT) and tax deductions, is highlighted, extending them to June 30, 2020, due to COVID-19 disruptions. The circular advises issuing trade notices to inform stakeholders and requests feedback on implementation difficulties.
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