https://www.taxtmi.com/manuals?id=1727 Credit notes under GST may be issued where the taxable value or tax charged exceeds the amount payable, where goods are returned, where there is deficiency in goods or services, and, after amendment, where a post-supply discount is agreed and linked to the original invoice. The credit note must be declared within the prescribed return period, and reduction of output tax liability is restricted if the recipient has not reversed related input tax credit or if the tax incidence has been passed on to another person. The GST rules also prescribe the contents, matching mechanism, discrepancy handling, record retention, and special treatment for returned time-expired drugs or medicines. en-us Fri, 18 Aug 2017 18:25:00 +0530 Mon, 13 Apr 2026 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1727 Credit notes under GST may be issued where the taxable value or tax charged exceeds the amount payable, where goods are returned, where there is deficiency in goods or services, and, after amendment, where a post-supply discount is agreed and linked to the original invoice. The credit note must be declared within the prescribed return period, and reduction of output tax liability is restricted if the recipient has not reversed related input tax credit or if the tax incidence has been passed on to another person. The GST rules also prescribe the contents, matching mechanism, discrepancy handling, record retention, and special treatment for returned time-expired drugs or medicines. Manuals GST Fri, 18 Aug 2017 18:25:00 +0530 https://www.taxtmi.com/manuals?id=1727