Section - 126 - Finance Acts

Section - 126 - Amendment of section 34

Amendment of section 34.

126. In section 34 of the Central Goods and Services Tax Act, in sub-section (2), for the proviso, the following proviso shall be substituted, namely:-

"Provided that no reduction in output tax liability of the supplier shall be permitted, if the-

(i)	-	input tax credit as is attributable to such a credit note, if availed, has not been reversed by the recipient, where such recipient is a registered person; or
(ii)	-	incidence of tax on such supply has been passed on to any other person, in other cases.".

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