a supplier of mine issued me a credit note, and i took itc for that in 3b, since it was a credit note so i didn't mention it in gstr 1 but my supplier should have mentioned it (because it was sales return for him). but he didn't..
now what should i do? this was from jan 2018 and now the year is also over.. help . thnx
11 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 June 2018
@ Shoeb Hasan,
Are You asking about Your purchase or Sale...?
Are You asking about Your purchase or Sale...?
Surjeet Negi
(947 Points)
Replied 03 June 2018
I understand that you have taken ITC of procurement for which supplier has already issued a credit note meaning reduction on your ITC credit . in such case there is exposure of interest liability.But for now it's better to have the same rectified in the next Return in light of CBIC circular 26 DT 29.12.2017 and reduce your ITC.
Shoeb Hasan
(81 Points)
Replied 03 June 2018
it was purchase return for me, he issued me credit note rather than i issued him debit note
Shoeb Hasan
(81 Points)
Replied 03 June 2018
so should i reverse my itc in next 3b.. because 17-18 is over now
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 June 2018
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 June 2018
| Originally posted by : Shoeb Hasan | ||
 |
it was purchase return for me, he issued me credit note rather than i issued him debit note |  |
If You had Credit Note. It's Your Debit Note... Rght...?
In Your next GSTR 3B You will reverse the Debit Note (Credit Note from Supplier) value in ITC Value...
You don't want show the Debit note in Your GSTR 1 Return
Vinod Babu
(24191 Points)
Replied 03 June 2018
Correct for "Shoeb Hasan • 03 June 2018
it was purchase return for me, he issued me credit note rather than i issued him debit note"
it was purchase return for me, he issued me credit note rather than i issued him debit note"
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 June 2018
Avaru sonnathu Unkalukku Epdi bro theriyum. Avaru Enna Unka pakkaththu seat ah...? Summa Ellaathukkum okay, Correct'u, Agreed nu podatheenka... Details podunka... Kannai moodittu Ellaathukkum reply pannaatheenka. Nallaa illai Bro. Tamil Unkalukku theriyum'nu nenaichi thaan tamil'a podaren... Puriyalai'na sollunka English'laye podaren... Please, msg box full aakuthu. Without details, sariyaa...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 June 2018
You know If purchase return then it's outward... If sales return then it's Inward....
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