https://www.taxtmi.com/circulars?id=67645 Suppliers issuing post supply discounts by tax credit notes may exclude those discounts from taxable value only if the recipient has proportionately reversed the input tax credit attributable to the discount; absent portal verification, suppliers should obtain a CA/CMA certificate (with UDIN) from the recipient specifying credit note and invoice details, amount and documentary reference of ITC reversal, or, for discounts below a de minimis threshold in a financial year, an undertaking from the recipient. These certificates/undertakings constitute admissible evidence under Section 15(3)(b)(ii) and must be produced to tax authorities when required. en-us Thu, 04 Jul 2024 00:00:00 +0530 Wed, 10 Jul 2024 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67645 Suppliers issuing post supply discounts by tax credit notes may exclude those discounts from taxable value only if the recipient has proportionately reversed the input tax credit attributable to the discount; absent portal verification, suppliers should obtain a CA/CMA certificate (with UDIN) from the recipient specifying credit note and invoice details, amount and documentary reference of ITC reversal, or, for discounts below a de minimis threshold in a financial year, an undertaking from the recipient. These certificates/undertakings constitute admissible evidence under Section 15(3)(b)(ii) and must be produced to tax authorities when required. Circulars GST - States Thu, 04 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67645