https://www.taxtmi.com/circulars?id=67654 Suppliers issuing tax credit notes for post-supply discounts may exclude the discount from taxable value only if pre-agreed and linked to invoices and the recipient has proportionately reversed the attributable Input Tax Credit; lacking portal verification, suppliers must obtain a recipient-issued certificate certified by a Chartered Accountant or Cost Accountant (or, below the small-amount threshold, an undertaking from the recipient) specifying credit note and invoice details, amounts of ITC reversal and documentary references, with UDIN for verification, as admissible evidence for compliance. en-us Mon, 08 Jul 2024 00:00:00 +0530 Thu, 11 Jul 2024 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67654 Suppliers issuing tax credit notes for post-supply discounts may exclude the discount from taxable value only if pre-agreed and linked to invoices and the recipient has proportionately reversed the attributable Input Tax Credit; lacking portal verification, suppliers must obtain a recipient-issued certificate certified by a Chartered Accountant or Cost Accountant (or, below the small-amount threshold, an undertaking from the recipient) specifying credit note and invoice details, amounts of ITC reversal and documentary references, with UDIN for verification, as admissible evidence for compliance. Circulars GST - States Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67654