If a reg supplier who supplied goods on july 2017 but same returned to him in mar 2018 and he has issued Credit note in the same month ie; in march and reduce his sale in gstr 1 for mar,
now the question is how to take credit of tax paid for the same ??
8 Replies
rishi
(student)
(408 Points)
Replied 09 July 2019
consider credit note in your return and your liability will reduce, subject to reversal of itc by the recipient.
Saket Mishra
(in 12th class)
(111 Points)
Replied 09 July 2019
but credit note was issued in the month of mar for interstate supply whereas there was no interstate supply for the sade month,
so can we settoff IGST(Which is paid at the time of original supply) against Liablity of CGST and SGST for the month of mar ??
so can we settoff IGST(Which is paid at the time of original supply) against Liablity of CGST and SGST for the month of mar ??
rishi
(student)
(408 Points)
Replied 09 July 2019
yes, include credit note in the return of month of March
Priya Kashyap
(Student)
(7053 Points)
Replied 09 July 2019
making a inward supply with respect to credit.note and taking into the igst for set off
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 09 July 2019
Report it in Your Gstr1, & in 3B you can reduce your tax liability only when you got a sale under same head
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 09 July 2019
@ Subhagan
I think I had clarified .
Sale Return : Report it in GSTR 1, under table Credit Notes. & In 3B you will be able to reduce your liability only when you have a sale
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