https://www.taxtmi.com/article/detailed?id=12550 The court examined an assessment raised when negative taxable and invoice values resulted from credit notes being reported under a B2C heading instead of the designated ITC heading; the taxpayer explained the error, submitted a CA certificate, and asserted no revenue impact. The revenue officer raised a demand based on the reporting mismatch without reconciling ITC entries against the credit note values to determine excess availment. The court concluded that, absent a verification showing loss to revenue, the assessment could not rest solely on the reporting discrepancy and remitted the matter for reconsideration with directions to verify reconciliation and documentary compliance. en-us Tue, 23 Apr 2024 11:02:37 +0530 Tue, 23 Apr 2024 11:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12550 The court examined an assessment raised when negative taxable and invoice values resulted from credit notes being reported under a B2C heading instead of the designated ITC heading; the taxpayer explained the error, submitted a CA certificate, and asserted no revenue impact. The revenue officer raised a demand based on the reporting mismatch without reconciling ITC entries against the credit note values to determine excess availment. The court concluded that, absent a verification showing loss to revenue, the assessment could not rest solely on the reporting discrepancy and remitted the matter for reconsideration with directions to verify reconciliation and documentary compliance. Articles Goods and Services Tax - GST Tue, 23 Apr 2024 11:02:37 +0530 https://www.taxtmi.com/article/detailed?id=12550