TaxTMI 
TaxTMI 
reversal of input tax credit on financial credit notes
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....eversal of input tax credit on financial credit notes<br> Query (Issue) Started By: - lagudu sivakumar Dated:- 17-2-2023 Last Reply Date:- 20-2-2023 Goods and Services Tax - GST<br>Got 3 Replies<br>GS....
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....T<br>Dear Expert, Our client have purchased material from reilance industries ltd, as a post sale , if our client paid the amount within due , they issued financial credit notes with out effecting th....
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....e gst on such credit notices. my query was whether such credit notes issued by reilance industries is taxable under gst Regards, Siva KUmar Reply By Shilpi Jain: The Reply: It is not compulsory t....
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....o issue a credit note with GST even if the conditions under the law are satisfied for its issuance. There is no concept of GST liability on credit notes under GST. So in the present case there is n....
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....o issue even if a financial CN is issued Reply By Amit Agrawal: The Reply: As there is no supply per se against issuance of financial credit-notes in nature of post-sale discount, there cannot be an....
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....y gst liability against financial credit-notes so issued. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. Reply By lagudu sivakumar: The R....
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....eply: Thanks for Shilpi Jain and Amit agrawal for your responses. if there are any High court and supereme court judgements regarding the Financial caredit note issues. Please provide any court dec....
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....isions and case laws if any Thanking YOu<br> Discussion Forum - Knowledge Sharing ....