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Credit Note Query

Indirect Taxation

No reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person. Please tell an example of this for better understanding...

Deepak Gupta

CA Inter

★ 1K+

20-Oct-20 16:55

308

Answers (2)

While giving credit note to customer, if tax benefit is not passed on.

CA Suraj Lakhotia

Admin

20-Oct-20 17:07

If customer returns any goods then we have to return to the customer the value of the goods and also the related tax

Shiva Teja

Faculty

26-Oct-20 14:25

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