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Credit Note Query

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

Deepak Gupta

CA Inter

1K+

20-Oct-20

40

Answers (2)

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


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Oct-20

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

Shiva Teja

Faculty

26-Oct-20

All the Best
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