- Indian government scrutinizing post-sale discounts under GST
- Suppliers must obtain customer undertakings or CA certificates for ITC reversal
- New guidelines aim to address lack of mechanism for tracking ITC reversal
- Documents with unique ID numbers for audits and consistent application of GST rules
- Enhancing compliance and providing clear audit trail for ITC reversal
- Closing gap in system for verifying ITC reversal on post-sale discounts
Source: timesofindia.indiatimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- India’s GST 2.0 Sparks Concerns in Nepal Over Smuggling and Trade Deficit
- India Recognizes Intermediary Services as Exports Under GST, Aligning with Global Practices
- FISME Urges Automatic GST Refunds, Proposes 8% Concessional Rates to Support MSMEs
- India Launches GST Appellate Tribunal for Uniform Dispute Resolution Across States
- GSTN Advisory 624: New Changes in Invoice Management System Effective October 2025
