TaxTMI Login
Just a moment...
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 Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Karnataka Tax Circular: Suppliers Must Provide Evidence of Input Tax Credit Reversal Compliance Under KGST Act Section 15(3)(b)(ii.</h1> The circular from the Karnataka Department of Commercial Taxes outlines a mechanism for suppliers to provide evidence of compliance with Section 15(3)(b)(ii) of the KGST Act, 2017. It addresses the issue of verifying whether recipients have reversed input tax credit for discounts given post-supply via tax credit notes. Until a portal functionality is available, suppliers can obtain a certificate from a Chartered Accountant or Cost Accountant, or an undertaking from the recipient if the discount is under Rs 5 lakh, confirming the reversal. These documents serve as evidence for compliance during audits or investigations.
TaxTMI 
TaxTMI 
