Sri Snigdha (Articles Assisstant) (499 Points)
21 March 2019
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 21 March 2019
Credit notes with GST element - To disclose under CDNR in GSTR 1 and apporpriately adjust in GSTR 3B Table 3.1.a/3.1.b
Financial credit notes(without GST element) - need not be disclosed in GST returns. Does not affect tax element.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 March 2019
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 22 March 2019
| Originally posted by : Sri Snigdha | ||
 |
as we are the suppliers, we got some sale returns from the retailers relating to the goods before gst.. we have issued the credit notes for them.. where we can file the credit note issued in gstr 1 |  |
I missed before GST in earlier reply. Please consider below:
By before GST, if you meant goods sold pre-GST regime and sales return in GST regime, then refer section 142(1) of CGST Act -
Good returned by registered person - deemed to be a supply - person returning goods to charge GST on the supply.
Goods returned by un-registered person - if returned within 6 months - registered seller can go for refund of tax under the pre-GST regime law (Ex: Excise/VAT).
If received after 6 months cannot claim refund.
GST liability cannot be reduced on account of such sales returns.
Sri Snigdha
(Articles Assisstant)
(499 Points)
Replied 22 March 2019
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 March 2019
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 22 March 2019
Ideally you should have gone for refund under earlier laws (not GST). If CN without GST is raised, then also no impact, as the taxes have not been effected. The VAT/Excise paid under earlier regime would be a cost.
CAclubindia
