Credit note /debit note
This query is : Resolved
23 June 2018
Dear All
Our Company is CNF (WB Region) of Cosmetic product. Manufacturer (Suppose M/s XYZ) direct send the materials (Cosmetic Product) to us and accordingly we paid the money to Manufacturer (Suppose M/s XYZ).
We sell these Cosmetic products through our distributor, dealer, Retailer in WB.
The Manufacturer (Suppose M/s XYZ) give us rewards in way of credit note in every quarter or festive season accordingly our performance.
And we also give some rewards to our distributor/ dealer/retailer by way of credit notes also to their performance wise.
Now question is:-
1} How we show these credit note in GSTR 3B and GSTR1 issued by the Manufacturer (Suppose M/s XYZ) to us?
2} how we show credit note issued by us to our distributer in GSTR 3B?
We are not get proper answer from our local Tax consultant and we can not adjust these credit not issued by manufacture in GSTR1
Sir Please help
Anshuman
Our Company is CNF (WB Region) of Cosmetic product. Manufacturer (Suppose M/s XYZ) direct send the materials (Cosmetic Product) to us and accordingly we paid the money to Manufacturer (Suppose M/s XYZ).
We sell these Cosmetic products through our distributor, dealer, Retailer in WB.
The Manufacturer (Suppose M/s XYZ) give us rewards in way of credit note in every quarter or festive season accordingly our performance.
And we also give some rewards to our distributor/ dealer/retailer by way of credit notes also to their performance wise.
Now question is:-
1} How we show these credit note in GSTR 3B and GSTR1 issued by the Manufacturer (Suppose M/s XYZ) to us?
2} how we show credit note issued by us to our distributer in GSTR 3B?
We are not get proper answer from our local Tax consultant and we can not adjust these credit not issued by manufacture in GSTR1
Sir Please help
Anshuman
23 June 2018
It's very simple and Not a big matter...
Just give one doubt... You are get Credit Note from XYZ. Right...?!
Is it taxable Credit Note...?
Just give one doubt... You are get Credit Note from XYZ. Right...?!
Is it taxable Credit Note...?
23 June 2018
YES SIR, WE GET TAX CREDIT NOTE AGAINST NO INVOICE
23 June 2018
YES SIR, WE GET TAX CREDIT NOTE AGAINST NO INVOICE REFERENCE. THEY MENTION IN CREDIT NOTE"SPECIAL REWARDS FOR QTR END....."
23 June 2018
Good...
As XYZ Credit Note is Your Debit note on Inwards/Purchase. You will less the Tax Value in Your ITC value in GSTR 3B return. No need show in Your GSTR 1 return...
You give Credit Note to Your Customers/Distributors on Your Outward Supplies. You will less the Credit Note Values in Your Current month Sales + Tax Values in Your GSTR 3B return. And You will show the Credit Note in Your GSTR 1 Return...
As XYZ Credit Note is Your Debit note on Inwards/Purchase. You will less the Tax Value in Your ITC value in GSTR 3B return. No need show in Your GSTR 1 return...
You give Credit Note to Your Customers/Distributors on Your Outward Supplies. You will less the Credit Note Values in Your Current month Sales + Tax Values in Your GSTR 3B return. And You will show the Credit Note in Your GSTR 1 Return...
23 June 2018
Right sir, but problem is when I put GSTR1 in Credit note the system asked the Previous Invoice reference No.
We issue a credit note to our dealer against festive rewards not any our issued invoice. Then what is I do?
We issue a credit note to our dealer against festive rewards not any our issued invoice. Then what is I do?
23 June 2018
Sir One more question, when we put in GSTR1 debit/credit note column the system asked original invoice no and date. but in my case we issue credit note to our dealer as rewards not sales return. then how I put GSTR1 in column 9B credit note/debit note reg. pl help
23 June 2018
Yes... If credit note then it will ask original invoices no...
But, You ll prepare new invoice for the award. It's better to credit note.
Bcoz, Credit note or Debit note based on previous invoices...
But, You ll prepare new invoice for the award. It's better to credit note.
Bcoz, Credit note or Debit note based on previous invoices...
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