https://www.taxtmi.com/acts?id=23172 Where a tax invoice overstated value or tax, or goods are returned or services deficient, a registered taxable person may issue a credit note with prescribed particulars and must declare it in the return for the month of issuance (but no later than the September following the end of the year or the annual return filing), with tax liability adjusted under the Act; reduction is barred if tax incidence was passed to another person. Conversely, if a tax invoice understated value or tax, the supplier must issue a debit note (including a supplementary invoice), declare it in the monthly return, and adjust tax liability accordingly. en-us Mon, 28 Nov 2016 11:17:29 +0530 Mon, 28 Nov 2016 16:48:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23172 Where a tax invoice overstated value or tax, or goods are returned or services deficient, a registered taxable person may issue a credit note with prescribed particulars and must declare it in the return for the month of issuance (but no later than the September following the end of the year or the annual return filing), with tax liability adjusted under the Act; reduction is barred if tax incidence was passed to another person. Conversely, if a tax invoice understated value or tax, the supplier must issue a debit note (including a supplementary invoice), declare it in the monthly return, and adjust tax liability accordingly. Act-Rules Bills Mon, 28 Nov 2016 11:17:29 +0530 https://www.taxtmi.com/acts?id=23172