Credit note reduction in tax''''urgent''''
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2017
Dear Experts
We have issued the invoice in July but we have issued the credit note against the same bill in September for rate difference. Pls tell me can I adjust the tax amount of this CN against the tax liability of September. E.g. tax liability for the month of September :- 100000
Less CN tax. 1000
Balance tax to be paid I.e. 99000/-
Pls clarify is it correct....
Thanks
Mukesh Chauhan
We have issued the invoice in July but we have issued the credit note against the same bill in September for rate difference. Pls tell me can I adjust the tax amount of this CN against the tax liability of September. E.g. tax liability for the month of September :- 100000
Less CN tax. 1000
Balance tax to be paid I.e. 99000/-
Pls clarify is it correct....
Thanks
Mukesh Chauhan
16 October 2017
You can upload the credit note in the month of September and mention the original invoice number to reduce the liability.
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2017
Sir basically what is the time limit to issue credit note as per my view for FY 2017-18 CN can be issued up to 30/9/2018 or due date of filing annual return whichever is earlier...
Is it correct....
Is it correct....
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