ITC is to be reversed on Financial Credit Note or Not? Legal view point and Important Advance Ruling

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AUTHORITY FOR ADVANCE RULING, ANDHRA PRADESH

IN RE: M/S. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED
Dated: - 26-5-2023

#Reversal #credit #GST credit #Tax invoice #supplier #commercial #requirement #gst
#ITC proportionately #commercial #discount #recipient #supply #taking ITC #
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Your explanation is really understandble sir Thank u sir

ankurarya
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sir your way of presentation is fantastic, kindly share more videos

rajeevkapoor
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Government profit me buyer loss me kunki jo product ka discount ho gya to uska gst wapas kre government cash me

ankitagrawal
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Good morning sir, ye fnc vali amount income mein jayegi ya nahi ? Mean ispe income tax dena hai ya nahi ??

sigmacctvsystems
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2024 mai kuch changed toh nhi ho gaya mera wala CA bol rahai iss per gst bhar na pade ga 18% same case hai biscuits company se target k financial discount mila tha hai.

vlogs
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Agar creditors ki Puri payment ko write-off kar de to kya gst input reversal karna hoga bataye

manojbhardwaj
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so gold medal will issue credit note without GST in it, just discount value will be written, no GST value would be written ?

rithikkedia
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Example..
Distributor sold goods to retailer @ 25000
In diwali scheme Distributor offer retailer for 3000 scheme including gst where retailer have to sale @ 22000.

After this sale distribution reversed 2542 to retailer and not taken ITC back.
Here ITC worth Rs 458 is in retailer account but product is sold. How to get this 458

ankitagrawal
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सर नमस्कार 🙏
22-23 में रिसीपेंट ने डेबिट नोट इशू किया पर सप्लायर ने अपने बुक में गलती से नहीं रिकार्ड किया तो क्या इस साल 23-24 मे इंट्री करके जीएसटी लियैबिलिटी को कम किया जा सकता है ? As per GST Law.

rudrakantjha