Vanisree P (Assistant Manager-Accounts) (38 Points)
18 July 2023I have a doubt whether if I write of a Invoice which was issued 1.5 years back , should I show it in GSTR return as a credit note ? If yes where should I show it . If this is not to be shown in my monthly or quarterly returns, then where should i show it in my GSTR 9 return , as this figure will be having difference with my Accounts and return.
RAJA P M
("Do the Right Thing...!!!")
(127962 Points)
Replied 18 July 2023
Musrath Shaik
(175 Points)
Replied 19 July 2023
if you want to write off an old invoice that was issued 1.5 years back, you should treat it as a bad debt and issue a credit note in your GST return. The credit note will help you adjust the GST liability you had reported earlier when the original invoice was issued.
Here's what you should do:
Issue a Credit Note: Generate a credit note with the details of the original invoice that you want to write off as a bad debt. The credit note should include the relevant GST details, such as the original invoice number, date, and the amount of GST being adjusted.
Show in GSTR Return: If you are filing regular monthly or quarterly GSTR returns, you should include the details of this credit note in the respective return for the period in which you decide to write off the invoice as a bad debt. Make sure to adjust the relevant GST liability and report the negative value accordingly.
GSTR 9 Return: When you file your annual return (GSTR-9), you should ensure that the adjustment made through the credit note is correctly reflected in the annual return. The figures in your GSTR-9 return should reconcile with your accounts, including the write-off of bad debts through credit notes.
For further more detailed information on this topic visit: GST Annual Returns
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RAJA P M
("Do the Right Thing...!!!")
(127962 Points)
Replied 19 July 2023
Rajendra Prasad
(Employee Private)
(1842 Points)
Replied 19 July 2023
As per my knowledge there is no any concept of Bad debts return off in GST Law. If any Credit Note prepared based on the issue, department will not accept the reversal of ITC.
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