https://www.taxtmi.com/forum/issue?id=112999 A composition-scheme registrant who erroneously issued a B2B tax invoice may issue a credit note to refund the tax wrongly collected to preserve composition status, provided returns and records are adjusted. The registrant must ensure every bill bears the required declaration that a composition taxable person is not eligible to collect tax; omission can attract penalty, though voluntary self-correction prior to departmental action may mitigate penalty risk. en-us Sat, 04 Nov 2017 13:29:00 +0530 Thu, 23 Jan 2025 15:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112999 A composition-scheme registrant who erroneously issued a B2B tax invoice may issue a credit note to refund the tax wrongly collected to preserve composition status, provided returns and records are adjusted. The registrant must ensure every bill bears the required declaration that a composition taxable person is not eligible to collect tax; omission can attract penalty, though voluntary self-correction prior to departmental action may mitigate penalty risk. Discussion-Forum GST Sat, 04 Nov 2017 13:29:00 +0530 https://www.taxtmi.com/forum/issue?id=112999