https://www.taxtmi.com/forum/issue?id=113430 Price revisions to contracts entered into before the GST appointed day require issuance of supplementary invoices or debit notes for upward revisions and may permit credit notes for downward revisions, these being treated as outward supplies and affecting tax liability only where the recipient adjusts input tax credits; contract or tender clauses control whether prices are inclusive of tax and, if silent, statutory valuation rules apply. Eligibility for input tax credit by road contractors under government contracts depends on whether the party is a main contractor or a subcontractor and on the contract terms. en-us Sat, 24 Feb 2018 18:30:12 +0530 Thu, 23 Jan 2025 15:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113430 Price revisions to contracts entered into before the GST appointed day require issuance of supplementary invoices or debit notes for upward revisions and may permit credit notes for downward revisions, these being treated as outward supplies and affecting tax liability only where the recipient adjusts input tax credits; contract or tender clauses control whether prices are inclusive of tax and, if silent, statutory valuation rules apply. Eligibility for input tax credit by road contractors under government contracts depends on whether the party is a main contractor or a subcontractor and on the contract terms. Discussion-Forum GST Sat, 24 Feb 2018 18:30:12 +0530 https://www.taxtmi.com/forum/issue?id=113430