News & Media 3rd Feb 2025

GST rules for credit notes tightened to stop leakage

Authors

Rohit JainDeputy Managing Partner | Mumbai

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A new Budget amendment necessitates suppliers to ensure buyers reverse ITC before claiming adjustments when issuing a credit note. This change aims to prevent revenue leakage and double tax benefits.

Our Deputy Managing Partner, Rohit Jain, has been quoted by The Times of India.

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