Consolidated credit/debit Notes will be allowed under GST : proposed GST Amendment
Govt is going to Amend Section 34 of CGST act 2017.
At present, a credit/debit note which is issued by the registered person is required to be issued
invoice-wise. This causes avoidable compliance burden for tax payers. Thus, it is proposed
to allow issuance of consolidated credit/debit which is in line with the best international practices.
The amendment seeks to permit a registered person to issue consolidated credit / debit notes
in respect of multiple invoices issued in a Financial Year without linking the same to individual invoices.
New GST News on Amendment in GST Act