(1) 1[Where one or more tax invoices have] been issued for supply of any goods or services or both and the taxable value or tax charged 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 a 2[one or more credit notes for supplies 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 3[the thirtieth day of November] 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:
(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 3[the thirtieth day of November] 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:
Source footnotes
1. This section was inserted by Mah. 31 of 2019 s. 6, w.e.f. 1st January 2020.2 These words were substituted for the words "Where a tax invoice has" by Mah. 67 of 2018, s. 15(a)(i), w.e.f. 1st February 2019.
3 These words were substituted for the words "a credit note" by Mah. 67 of 2018, s. 15(a)(ii), w.e.f. 1st February 2019.
4 These words were substituted for the word "September" by Mah. 39 of 2022, s. 4, w.e.f. 1st October 2022.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Officers under this Act.Section 4 · Appointment of officers.Section 5 · Powers of officers.Section 6 · Authorisation of officers of central tax as proper officer in certain circumstances.Section 7 · Scope of supply.Section 8 · Tax liability on composite and mixed supplies.India Code, Government of India. Text fetched 19 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.