Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier

Post Sale Discounts - How to check Buyer has reversed GST Credit on Credit Note issued by Supplier
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📢 CBIC issued Circular on Mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, by the suppliers [Circular No.-212/6/2024-GST]
✔️ Read More at: www.a2ztaxcorp.com/cbic-issue...
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[@rohittripathi3947]

Thank you sir for sharing this informative video 👍👍

[@amitmukherjee2527]

Good one sir

[@Kishore39759]

Thank you sir

[@omkarnathkaja300]

Sir if the seller uploads credit note automatically it will become buyers liability in 3b of buyer then it is the duty of the buyer to discharge his liability not the tension of seller. It is the duty of dept to get the amount realisted along with interest charged for delay.. so there is no need to cross check but law said to check. Why we don't know

[@cawithdeepak]

@cabimaljain Sir what is the recourse to a businessman who has paid output tax on invoice and subsequently the debt becomes bad? Credit note or any case law?

[@ashokktekuru4640]

Pranaaam sir

[@cacvsuryam3820]

Sir, almost for the last about one year, ITC is being autpopulated into 3B of recipient net amount only (after adjusting tax on CNs). Hence, is it so that this circular is beneficial for past cases?

[@WorldHistoricalTrails]

Sir, please tell me the applicability from ehen onwards

[@prakashvankhede6354]

This certificate is required per month or on I may yearly basis

[@ayushgoel8022]

Thanks Sir for sharing this.
I have a question regarding this, I believe this circular is only applicable when the supplier has reversed it's output tax liability.
Will it also make a impact where the supplier has not reduced it's liability and the buyer has not reduced it's ITC

[@mvnagesh3609]

Sir, even vendor not issued, based on quality or short receipt, we are reversing ITC portion month on month. Again we can't reverse based on credit note issued by vendor in latter date if any

[@cabimaljain]

then, need not required

[@rahultrivedi4613]

Sir what about the case when financial credit note is issued??

[@atulpuranik8506]

Sir what about credit notes issued to un registered person?

[@anandmohan1556]

Sir, if the suppliers not issued the credit note,but make the adjustment through ledger, now department demanded the tax.

[@tarundas4969]

If get cash discount when payment made then itc reverse