CBEC explains modalities of credit & debit notes under GST, 'matching' with ITC reduction

CBEC explains the situations for issuing credit / debit notes viz. where supplier has erroneously declared value more / less than actual value of goods / services, or declared higher / lower tax rate than what is applicable, or quantity received by recipient is less / more than what has been declared in tax invoice and quality of goods or services supplied is not to satisfaction of recipient thereby necessitating a partial or total reimbursement on invoice value; Explains tha...