TaxTMI 
TaxTMI 
Adjustments to tax
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.... has been cancelled; ^ ^ (b) the nature of that sale has been fundamentally varied or altered; ^3[(c) the previously agreed consideration for that sale has been altered by agreement with the recipient for any reason except where a discount or incentive is offered through a credit note ....
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....nbsp; (ii) furnished a return in relation to a tax period in respect of which tax on that sale is attributable, and has accounted for an amount of tax on that sale that is not the amount properly chargeable on that sale. ^ (2) Where a dealer has accounted for an incorrect amount of tax as contemplated in sub-section (1....
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....ment is made, and shall not be attributable to any prior tax period. ^4[Explanation : Credit notes issued on account of post sale discounts or incentives will be independent of tax component and no adjustments in the output tax would be required to be made.] ^ (3) Where a dealer sells....
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....e dealer would be liable in respect of the sale apart from this section; B = the amount by which the tax credit of the dealer in respect of the goods was reduced under sub-section (4) of section 9 of this Act; C = the amount of the tax credit before reduction under sub-section (4) of section 9 of this Act. ....