https://www.taxtmi.com/circulars?id=67607 Suppliers issuing tax credit notes for post-supply discounts may exclude those discounts from taxable value only if recipients have proportionately reversed the attributable input tax credit. Pending a portal verification facility, suppliers must obtain either a CA/CMA certificate (with UDIN) detailing credit notes, related invoices, ITC reversal amounts and the return/form evidencing reversal, or, for discounts below the prescribed monetary threshold in a financial year, an undertaking from the recipient. Such documents are admissible evidence for compliance and must be produced when required. en-us Sat, 29 Jun 2024 00:00:00 +0530 Tue, 02 Jul 2024 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67607 Suppliers issuing tax credit notes for post-supply discounts may exclude those discounts from taxable value only if recipients have proportionately reversed the attributable input tax credit. Pending a portal verification facility, suppliers must obtain either a CA/CMA certificate (with UDIN) detailing credit notes, related invoices, ITC reversal amounts and the return/form evidencing reversal, or, for discounts below the prescribed monetary threshold in a financial year, an undertaking from the recipient. Such documents are admissible evidence for compliance and must be produced when required. Circulars GST - States Sat, 29 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67607