In case of raising of Debit note to a supplier, do we can adjust it against ITC? or we have to pay liability to govt. why? Which rule says it.
Adjust it with ITC No. need to pay.
You have to adjust with whatever ITC till date you claimed.
What about the other scenario if we will impose some sort of penalty to the supplier, let say a courier company is my service provider I raised a debit note as the penalty for late delivery charges, in that case, do can I deduct from my ITC?