https://www.taxtmi.com/caselaws?id=800681 Credit notes issued for returned, rejected, or reduced-value supplies reduce taxable turnover and may be deducted from adjusted total turnover under the accumulated input tax credit refund formula. Deduction is available where credit notes relate to invoices within the refund period. Credit notes issued during that period but relating to invoices from an earlier financial year cannot reduce adjusted total turnover if issued after the statutory deadline for declaring them. After excluding those belated notes, the recomputed maximum refund still exceeded the refund claimed, leaving the claim admissible. en-us Wed, 07 Oct 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800681 Credit notes issued for returned, rejected, or reduced-value supplies reduce taxable turnover and may be deducted from adjusted total turnover under the accumulated input tax credit refund formula. Deduction is available where credit notes relate to invoices within the refund period. Credit notes issued during that period but relating to invoices from an earlier financial year cannot reduce adjusted total turnover if issued after the statutory deadline for declaring them. After excluding those belated notes, the recomputed maximum refund still exceeded the refund claimed, leaving the claim admissible. Case-Laws GST Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800681