CUSTOMER CREDIT NOTE
This query is : Resolved
06 August 2020
Sir, We are into wholesale business of plastics & crockeries. We used to bill to retail customer products. Few retailers return the materials damaged without documents and make reduced payments. We used to prepare CREDIT NOTE & account ourselves.
Now when we file GST Returns we used to less these taxes of returns and pay. Is there any issue ? moreover few retailers do not maintain properly books of accounts. How department will match the transaction ?
Now when we file GST Returns we used to less these taxes of returns and pay. Is there any issue ? moreover few retailers do not maintain properly books of accounts. How department will match the transaction ?
06 August 2020
1 No issue.
2 Dept will look for matching the return.
2 Dept will look for matching the return.
06 August 2020
One of the condition for reducing the GST liability through credit note is that the recipient should reverse the ITC availed by him on the relevant invoice.You need to get this confirmed from retailers if they are availing ITC. If they are not availing ITC then there should not be any problem.
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
- GST Regis.
- Inventory of finished goods
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Rent on gst on self ownership commercial property
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
