Input tax credit would not be denied under the goods and services tax (GST) system even when a company receives post-supply discounts, provided the entire tax liability is paid, the authority for advance rulings (AAR) in Andhra Pradesh has ruled.
Vedmutha Electricals, a distributor of electronic goods, sought advance ruling whether it can claim a full credit on the original invoice amount even if the discount is not reflected in the invoice.
Source a2ztaxcorp
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