https://www.taxtmi.com/forum/issue?id=112800 A supplier may issue a credit note where an invoice overstates taxable value, or where goods are returned or supplies are deficient; this does not extend to a recipient's unilateral deduction for liquidated damages. Under the adjustment regime, understatement of taxable value requires a debit note. The appropriate practical response to an invoice deduction by a recipient is for the recipient to raise a debit note, while characterisation of the deduction may engage deemed-supply concepts under Schedule II. en-us Tue, 12 Sep 2017 16:08:33 +0530 Thu, 23 Jan 2025 15:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112800 A supplier may issue a credit note where an invoice overstates taxable value, or where goods are returned or supplies are deficient; this does not extend to a recipient's unilateral deduction for liquidated damages. Under the adjustment regime, understatement of taxable value requires a debit note. The appropriate practical response to an invoice deduction by a recipient is for the recipient to raise a debit note, while characterisation of the deduction may engage deemed-supply concepts under Schedule II. Discussion-Forum GST Tue, 12 Sep 2017 16:08:33 +0530 https://www.taxtmi.com/forum/issue?id=112800