https://www.taxtmi.com/caselaws?id=800680 Credit notes reduce taxable turnover under section 34 only when validly issued and declared within the statutory time limit. For inverted-duty-structure refund calculations under Rule 89(5), credit notes relating to supplies in the relevant refund period may reduce adjusted total turnover. Credit notes connected with earlier financial-year invoices but issued after the applicable declaration deadline cannot be excluded from adjusted total turnover. Refund eligibility must therefore be calculated without reducing turnover for those time-barred credit notes, and any resulting excess refund is recoverable. 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=800680 Credit notes reduce taxable turnover under section 34 only when validly issued and declared within the statutory time limit. For inverted-duty-structure refund calculations under Rule 89(5), credit notes relating to supplies in the relevant refund period may reduce adjusted total turnover. Credit notes connected with earlier financial-year invoices but issued after the applicable declaration deadline cannot be excluded from adjusted total turnover. Refund eligibility must therefore be calculated without reducing turnover for those time-barred credit notes, and any resulting excess refund is recoverable. Case-Laws GST Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800680