Section Text
any goods or services or both and the taxable value or tax charged debit notes.
in that tax invoice is found to exceed the taxable value or tax
payable in respect of such supply, or where the goods supplied are
returned by the recipient, or where goods or services or both
supplied are found to be deficient, the registered person, who has
supplied such goods or services or both, may issue to the recipient
2
[one or more credit notes for supplier made in a financial year]
containing such particulars as may be prescribed.
(2) Any registered person who issues a credit note in relation to
a supply of goods or services or both shall declare the details of
such credit note in the return for the month during which such
credit note has been issued but not later than September
following the end of the financial year in which such supply
was made, or the date of furnishing of the relevant annual
return, whichever is earlier, and the tax liability shall be
adjusted in such manner as may be prescribed:
Provided that no reduction in output tax liability of the supplier
shall be permitted, if the incidence of tax and interest on such supply
has been passed on to any other person.
(3) 3[where one or more tax invoices have been issued” shall
be substituted] for supply of any goods or services or both and
the taxable value or tax charged in that tax invoice is found to be
less than the taxable value or tax payable in respect of such
supply, the registered person, who has supplied such goods or
services or both, shall issue to the recipient 4[one or more debit
note for supplies made in a financial year] containing such
particulars as may be prescribed.
(4) Any registered person who issues a debit note in relation to
a supply of goods or services or both shall declare the details of
such debit note in the return for the month during which such
debit note has been issued and the tax liability shall be adjusted
in such manner as may be prescribed.
Explanation. ––For the purposes of this Act, the expression “debit
note” shall include a supplementary invoice.
---------------------------------------------------------
1- Substituted by section 15 (a) (i) of Uttrakhand. Act no. 31 of 2018.
2- Substituted by section 15 (a) (ii) of Uttrakhand. Act no. 31 of 2018.
3- Substituted by section 15 (b) (i) of Uttrakhand. Act no. 31 of 2018.
4- Substituted by section 15 (b) (ii) of Uttrakhand. Act no. 31 of 2018.
53
The Uttarakhand Goods And Services Tax Act, 2017