Treatment of Credit Note

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Rakesh Mishra (Querist)
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01 June 2023 What should be the ideal treatment of Credit Note? Whether it should be deducted from liability or should enhance the ITC?

CA R SEETHARAMAN (Expert)
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03 June 2023 It should be deducted from liability.
ITC reversal required.

Rakesh Mishra (Querist)
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08 June 2023 Thank you very much for your kind gesture of sharing valuable time

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