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credit note
if we raise a credit note against sales, can we claim the ITC on d credit note? sales reversal adjusted against outward supply. ... how to treat tax reversal?
Replies (6)
No you can't take credit on raising credit note. You will have to reduce liability.
thank u...
but there is no igst liability in that particular month, how to reduce then. can we reduce it in any subsequent period
but there is no igst liability in that particular month, how to reduce then. can we reduce it in any subsequent period
Yes you can
YES you can
credit note decreases the output tax liability of supplier and same ITC reduced with recipient
No you can't take credit on raising credit note. You will have to reduce liability.
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