Treatment of Credit Note
This query is : Resolved
Quick Summary
Rakesh Mishra
(Querist)
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)
03 June 2023
It should be deducted from liability.
ITC reversal required.
ITC reversal required.
Rakesh Mishra
(Querist)
08 June 2023
Thank you very much for your kind gesture of sharing valuable time
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