TaxTMI 
TaxTMI 
CREDIT NOTE
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....REDIT NOTE<br> Query (Issue) Started By: - AKHIL MITTAL Dated:- 1-5-2018 Last Reply Date:- 5-5-2018 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>THANKS FOR THE REPLY. THE DISCOUNT POLICY WA....
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....S DECIDED AT THE TIME OF SALE, BUT WE ARE MANUFACTURER OF FOOTWEAR & DON'T WANT TO REVERSE THE GST AS THE REFUND UNDER INVERTED DUTY STRUCTURE HAS ALREADY BEEN CLAIMED. CAN WE ISSUE CREDIT NOTES W....
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....ITHOUT REVERSING GST PLEASE REPLY SPECIFICALLY. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: In my view it is not possible. Reply By KASTURI SETHI: The Reply: You cannot enjoy the benefits of bo....
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....th worlds. I agree with the views of Dr.Govindarajan Sir. Reply By YAGAY ANDSUN: The Reply: In our view it is possible, provided your customer do not revert the ITC. Law is very specific in this reg....
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....ard. Reply By CS SANJAY MALHOTRA: The Reply: Yes, credit notes can be issued without charging GST as none stands to loose. You are neither claiming reduction in your output tax liability nor your cl....
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....ient is reversing same. Govt revenue is not impacted. This is the best option majority of industrial players follow. Reply By YAGAY and SUN: The Reply: This practice is practical and convenience ....
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....and hence is being followed by the majority of assessee.<br> Discussion Forum - Knowledge Sharing ....