Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust ...

A negative invoice or credit note is a form letter sent from a business/seller to a product buyer. According to BusinessDictionary.com, a credit note states that the business is crediting a portion of ...

The GST Council has eased compliance for businesses, particularly FMCG companies, by removing the requirement to link credit notes to specific invoices. This change addresses a long-standing pain ...