TaxTMI 
TaxTMI 
Mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the GGST Act, 2017 by the suppliers.
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....(3) of section 15 of the Gujarat Goods and Services Tax Act, 2017 (hereinafter referred to as "GGST Act"), for reversal of the input tax credit attributable to the said discount by the recipient, is satisfied. Representations have been received from the trade and the field formations mentioning that there is presently no facility available to the supplier as well as the tax officers on the common portal to verify whether the input tax credit attributable to the said discount has been reversed by the recipient or not. Request has been made to provide a suitable mechanism for enabling the suppliers as well as tax officers to verify fulfilment of the condition of section 15(3)(b)(ii) of the GGST Act regarding proportionate reversal of input ta....
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....onditions of clause (b) of sub-section (3) of section 15 of the GGST Act are fulfilled. Such conditions inter alia includes the requirement of reversal of input tax credit by the recipient attributable to the said discount. 2.3 However, there is no system functionality/facility presently available on the common portal to enable the supplier or the tax officer to verify the compliance of the said condition of proportionate reversal of input tax credit by the recipient. 2.4 In view of the above, till the time a functionality/facility is made available on the common portal to enable the suppliers as well as the tax officers to verify whether the input tax credit attributable to such discounts offered through tax credit notes has been rev....
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....nbsp; 2.7 In cases, where the amount of tax (CGST+SGST+IGST and including compensation cess, if any) involved in the discount given by the supplier to a recipient through tax credit notes in a Financial Year is not exceeding Rs 5,00,000 (rupees five lakhs only), then instead of CA/CMA certificate, the said supplier may procure an undertaking/certificate from the said recipient that the said input tax credit attributable to such discount has been reversed by him, along with the details mentioned in Para 2.5 above. 2.8 Such certificates issued by the CA/CMA or the undertakings/certificates issued by the recipient of supply, as the case....