https://www.taxtmi.com/circulars?id=71139 Post-supply discounts issued through tax credit notes may be excluded from taxable value only if the recipient reverses input tax credit attributable to the discount. Pending portal-based verification, suppliers may obtain a Chartered Accountant or Cost Accountant certificate detailing the credit notes, linked invoices, reversal amounts, and supporting reversal records. For discounts within the prescribed annual tax threshold, a recipient undertaking or certificate may be used instead. Such evidence is admissible in scrutiny, audit, investigation, and other proceedings, including for past periods. en-us Fri, 12 Jul 2024 00:00:00 +0530 Thu, 03 Sep 2026 14:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71139 Post-supply discounts issued through tax credit notes may be excluded from taxable value only if the recipient reverses input tax credit attributable to the discount. Pending portal-based verification, suppliers may obtain a Chartered Accountant or Cost Accountant certificate detailing the credit notes, linked invoices, reversal amounts, and supporting reversal records. For discounts within the prescribed annual tax threshold, a recipient undertaking or certificate may be used instead. Such evidence is admissible in scrutiny, audit, investigation, and other proceedings, including for past periods. Circulars GST - States Fri, 12 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71139