Credit note and debit note reversal
This query is : Open
16 January 2021
I have got credit note from Amazon and debit note from a transportation service provider.
How to reflect credit note and debit notes in GSTR 3B and GSTR 1. Also how to reflect in ITC.
Please guide, I am totally confused.
How to reflect credit note and debit notes in GSTR 3B and GSTR 1. Also how to reflect in ITC.
Please guide, I am totally confused.
17 January 2021
I assume Amazon has given credit note as supplier (commission service).You do not have to show in GSTR1 but take ITC effect in GSTR3B.
18 January 2021
Thank You Sood Sir,
Yes, Amazon has issued me credit Note.
So, I have to reverse credit note GST amount in Table 4(2) (B) and I don't have to do anything in Table 3.1, not to show anything in GSTR1- Is the understanding correct?
Similarly, Logistics Provider has issued me debit note. So I increase my ITC amount to that extent alongwith normal ITC in Table 4 and don't have to show anything in Table 3.1, not to show anything in GSTR1 - Is the understanding correct?
Can I net off credit and debit note amount or better to show separately.?
Will be greatful for your guidance.
Yes, Amazon has issued me credit Note.
So, I have to reverse credit note GST amount in Table 4(2) (B) and I don't have to do anything in Table 3.1, not to show anything in GSTR1- Is the understanding correct?
Similarly, Logistics Provider has issued me debit note. So I increase my ITC amount to that extent alongwith normal ITC in Table 4 and don't have to show anything in Table 3.1, not to show anything in GSTR1 - Is the understanding correct?
Can I net off credit and debit note amount or better to show separately.?
Will be greatful for your guidance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Is income taxable or receivable or received in case of LLP and company
- Is receivable or recoverable same thing
- Bifurcation of prepaid expenses
- TDS - Form 26QB - Installment - Final payment Query
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
