Return of time expired goods: fresh supply or credit note options determine ITC entitlement and reversal obligations. Return of time expired drugs may be effected either as a fresh supply or by issuance of a credit note. A registered non composition returner issuing an invoice permits the recipient to claim ITC subject to Section 16; composition taxpayers must issue a bill of supply with no ITC to recipient; unregistered persons may use a commercial document without tax. If returned goods are destroyed, the manufacturer must reverse ITC on the return supply per clause (h) of sub section (5) of section 17. Credit notes issued within the Section 34(2) time limit permit supplier tax adjustment only if recipient has not availed or has reversed ITC; outside that period adjustment and portal declaration are not required.
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.
Return of time expired goods: fresh supply or credit note options determine ITC entitlement and reversal obligations.
Return of time expired drugs may be effected either as a fresh supply or by issuance of a credit note. A registered non composition returner issuing an invoice permits the recipient to claim ITC subject to Section 16; composition taxpayers must issue a bill of supply with no ITC to recipient; unregistered persons may use a commercial document without tax. If returned goods are destroyed, the manufacturer must reverse ITC on the return supply per clause (h) of sub section (5) of section 17. Credit notes issued within the Section 34(2) time limit permit supplier tax adjustment only if recipient has not availed or has reversed ITC; outside that period adjustment and portal declaration are not required.
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