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of <h1>Post-supply discounts via tax credit notes excluded from taxable value only if conditions met and recipient reverses ITC</h1> Where post-supply discounts are given by issuing tax credit notes, such discounts are excluded from taxable value only if: (i) agreed at or before supply, (ii) linked to invoices, and (iii) the recipient has proportionately reversed the attributable input tax credit. Until portal verification is available, suppliers should obtain a certificate from the recipient issued by a Chartered Accountant or Cost Accountant (with UDIN) detailing credit notes, invoice references, ITC reversal amounts and supporting DRC-03/return entries; for tax amounts = Rs 5,00,000 a recipient's undertaking with those details suffices. Such certificates/undertakings are admissible evidence for authorities.
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