https://www.taxtmi.com/highlights?id=105022 Credit notes issued within the prescribed period for rejected or returned supplies reduce taxable turnover because the returned goods no longer form part of the supply. Verified by a Chartered Accountant's certificate, GSTR-1 statements and voucher register, the notes were deductible from gross turnover in determining adjusted total turnover under Rule 89(5) for an inverted duty structure refund of accumulated input tax credit. The Tribunal upheld the deduction and dismissed the Revenue's appeal. en-us Thu, 15 Oct 2026 05:44:05 +0530 Thu, 15 Oct 2026 05:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105022 Credit notes issued within the prescribed period for rejected or returned supplies reduce taxable turnover because the returned goods no longer form part of the supply. Verified by a Chartered Accountant's certificate, GSTR-1 statements and voucher register, the notes were deductible from gross turnover in determining adjusted total turnover under Rule 89(5) for an inverted duty structure refund of accumulated input tax credit. The Tribunal upheld the deduction and dismissed the Revenue's appeal. Highlights GST Thu, 15 Oct 2026 05:44:05 +0530 https://www.taxtmi.com/highlights?id=105022