Sales return under gst
This query is : Open
07 May 2019
Dear Sirs,
Sec-34 of GST restrict to issue credit note to the customer against sales return not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return. We are in trading activity and some times get return of goods from customer even after 2 years. GST is silent on this case. during VAT regime we use to take back material without reversing VAT/CST amount. can you please suggest how to take the material back and how to disclose these material in GST return.
Sec-34 of GST restrict to issue credit note to the customer against sales return not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return. We are in trading activity and some times get return of goods from customer even after 2 years. GST is silent on this case. during VAT regime we use to take back material without reversing VAT/CST amount. can you please suggest how to take the material back and how to disclose these material in GST return.
07 May 2019
My suggestion is that your customer can raise invoice and send material back to you . It will be treated as fresh supply and your customer can show in his GSTR 1 and you can take credit for payment against returned good
07 May 2019
Thanks Ms. Anita. Whether we can use purchase route as standard for all transaction even which is within eligible period. Also please suggest it's accounting impact as it will be seen as revenue exaggeration.
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