Understand the implications of GST rate changes on outward supplies, input tax credit, and tax liability. Learn how to handle billing, credit notes, and ...
The circular addresses doubts raised by industry stakeholders regarding how such discounts affect Input Tax Credit (ITC) and ...
A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow ...
The government's new GST circular clarifies the treatment of trade discounts and credit notes but increases compliance and ...
No ITC reversal required for financial credit notes. Explains when discounts are 'consideration' or payment for ...
According to a recent advisory issued by the GSTN, the changes are aimed at reducing disputes, lowering the compliance burden ...
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GST Rejig: Post-Sale Discounts To Dealers Not Subject To GST, Says CBIC
Discounts given by manufacturers to dealers for competitive pricing are not considered as GST for further supplies to customers.
Industry body welcomes new GST reforms but urges council to address Issues impacting automobile, beverage, pharma sectors and ...
New GST rates took effect on September 22, 2025, necessitating software updates for registered taxpayers. A step-by-step ...
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