Credit Notes under GST: Legal Framework, ITC Implications, and Treatment of Post-Sale Discounts
Credit notes play a vital role in the Goods and Services Tax (GST) regime, particularly in scenarios involving price adjustments, post-sale discounts, and supply corrections. While GST law envisages specific procedures for issuance and reporting of credit notes, their practical application has given rise to interpretational challenges, especially in distinguishing tax credit notes from […]