https://www.taxtmi.com/forum/issue?id=113513 Issue: suppliers issuing so called Commercial Credit Notes without GST and without linking them to original invoices. Key points: there is no separate legal concept of a commercial credit note under GST; a credit note that reduces taxable turnover should be issued by the supplier, include the tax component, and be linked to the original tax invoice; supplier tax liability reduces only if the purchaser reduces its input tax credit; parties may record discounts on the taxable value exclusive of tax to avoid GST reversal. en-us Thu, 22 Mar 2018 11:58:19 +0530 Thu, 23 Jan 2025 15:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113513 Issue: suppliers issuing so called Commercial Credit Notes without GST and without linking them to original invoices. Key points: there is no separate legal concept of a commercial credit note under GST; a credit note that reduces taxable turnover should be issued by the supplier, include the tax component, and be linked to the original tax invoice; supplier tax liability reduces only if the purchaser reduces its input tax credit; parties may record discounts on the taxable value exclusive of tax to avoid GST reversal. Discussion-Forum GST Thu, 22 Mar 2018 11:58:19 +0530 https://www.taxtmi.com/forum/issue?id=113513