CBIC Provides Mechanism for Providing Evidence of Reversal of ITC on Discount by the Recipient
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- By Chetan Kulasri
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- Last Updated on 28 June, 2024
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Circular No.212/6/2024-GST dated June 26th, 2024
The CBIC has clarified that till the time a functionality/facility is made available on the common portal, the supplier may procure a certificate from the recipient of supply, issued by the Chartered Accountant (CA) or the Cost Accountant (CMA), certifying that the recipient has made the required proportionate reversal of input tax credit at his end in respect of such credit note issued by the supplier.
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CA | CS | CMA
