https://www.taxtmi.com/forum/issue?id=114136 Where a trade discount is agreed, GST is not leviable and the discount should be indicated on the invoice; however, GST law prevents dual benefit so Input Tax Credit must be proportionately reversed where discounts affect taxable value. An amendment permits issuance of a single credit note against multiple invoices, often applied on a FIFO basis, requiring appropriate ITC reversal and invoice disclosure. en-us Tue, 11 Sep 2018 12:05:40 +0530 Thu, 23 Jan 2025 15:55:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114136 Where a trade discount is agreed, GST is not leviable and the discount should be indicated on the invoice; however, GST law prevents dual benefit so Input Tax Credit must be proportionately reversed where discounts affect taxable value. An amendment permits issuance of a single credit note against multiple invoices, often applied on a FIFO basis, requiring appropriate ITC reversal and invoice disclosure. Discussion-Forum GST Tue, 11 Sep 2018 12:05:40 +0530 https://www.taxtmi.com/forum/issue?id=114136