TMI BlogCredit Note to foreign buyerX X X X Extracts X X X X X X X X Extracts X X X X ..... XYZ supplied goods for export without payment of GST under LUT. The customer made the payment against the same at an early date than the stipulated and therefore asked for a reduction in the amount to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be paid by him to XYZ. Therefore, XYZ issued a credit note with a description Towards interest cost of early payment . Is XYZ liable to pay GST under reverse charge on the amount of credit note? - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply By Rajagopalan Ranganathan - The Reply = Sir, Since the goods are supplied for export without payment of IGST, the supplier can issue Financial/Commercial credit note without GST. Since Finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial/Commercial credit note without GST is to be issued no GST is payable. Moreover as mentioned by you the credit note is issued towards interest cost of early payment. - Reply By KASTURI SETHI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - The Reply = I am also of the same views as opined by Sh.Ranganathan, Sir. - Credit Note to foreign buyer - Query Started By: - Kaustubh Karandikar Dated:- 27-9-2019 Goods and Services Tax - GST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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