Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Credit note

narender tuteja (176 Points)

14 June 2020

treatment of credit note
in 3B and gstr 1 .
may month sale credit note
made in june month

Reply
Follow
Share

4 Replies

KRISSHNAN KP (4215 Points)
Replied 14 June 2020

For which assessment year

Upgrade to CAclubindia Pro. Subscribe Now!

Hemal Makwana (Designation) (771 Points)
Replied 14 June 2020

If sale was intra state - cgst and sgst liability will be reduced in the month of June due to issuance of credit pertaining to intra state supt

if sale is inter state - igst liability will be reduced in the month of June due to issuance of credit note pertaining to inter state supply

1 Like

narender tuteja (176 Points)
Replied 14 June 2020

Tarder sale goods in intra state ,with a less price of bill.up to 40 percentage .company claim credit note for this 40 peecentage for given credit note to trader in next month .
now inext minth treatment of this 40 percentage
in 3 b

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 14 June 2020

Reduce ITC when Credit is received from Supplier & if credit Note is issued to Receptient , then reduce Output Tax Liability.

The Applicability of IGST, CGST/SGST is as per POS of Supplier & Receptient.