Question

GST paid is an asset, where
is allowed.
N
O Cash Discount
O Input Credit
O Reverse Charge
o Output Credit​

Answer 1

Revised rules on invoice, credit and debit notes released by the CBEC provide more clarity on the disclosure requirements on statutory documents under GST. Key changes in comparison to the previously issued rules on invoicing are The revised rules issued by CBEC broadly remain unchanged viz a vis the earlier draft rules. Highlight of some of the key changes are as below:

Clarification on information to be furnished in return for outward, inward supplies including return to be submitted by composition supplier i.e. Invoice level details vs consolidated details, debit notes and credit notes, import of goods and services made

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