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TMI BlogCREDIT NOTEX X X X Extracts X X X X X X X X Extracts X X X X ..... CREDIT NOTE X X X X Extracts X X X X X X X X Extracts X X X X ..... AS DECIDED AT THE TIME OF SALE, BUT WE ARE MANUFACTURER OF FOOTWEAR & DON'T WANT TO REVERSE THE GST AS THE REFUND UNDER INVERTED DUTY STRUCTURE HAS ALREADY BEEN CLAIMED. CAN WE ISSUE CREDIT NOTES ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... WITHOUT REVERSING GST PLEASE REPLY SPECIFICALLY. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: In my view it is not possible. Reply By KASTURI SETHI: The Reply: You cannot enjoy the benefits of b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oth worlds. I agree with the views of Dr.Govindarajan Sir. Reply By YAGAY ANDSUN: The Reply: In our view it is possible, provided your customer do not revert the ITC. Law is very specific in this re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gard. Reply By CS SANJAY MALHOTRA: The Reply: Yes, credit notes can be issued without charging GST as none stands to loose. You are neither claiming reduction in your output tax liability nor your c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lient is reversing same. Govt revenue is not impacted. This is the best option majority of industrial players follow. Reply By YAGAY and SUN: The Reply: This practice is practical and convenience ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and hence is being followed by the majority of assessee. X X X X Extracts X X X X X X X X Extracts X X X X
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