How will the input credit already distributed reversed on issuance of an ISD credit note?

In terms of Rule 39(1) (j) of the CGST Rules, 2017, the credit reduced by issuance of an ISD credit note will be apportioned to each recipient in the same ratio in which the credit of the original invoice was distributed.

(ICAI FAQ PUBLICATION 06-09-2017 -: Input Tax Credit: FAQ NO. 50)

 

Leave a Reply

Your email address will not be published. Required fields are marked *