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Credit Note

06 August 2020

Can credit note for FY 2017-18 issued in FY 2018-19 or FY 2019-20. If yes hiw to adjust it in return because Annual return for FY 2017-18 was already filed but not for 2018-19.

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2 Replies

CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 06 August 2020

Credit Note can be issued by earlier of the following dates:

1. Date of filling of Annual return in which the Original Tax Invoice was issued; OR

2. 30th September of the FY immediately succeeding the FY in which the original Tax Invoice was issued.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 07 August 2020

There is no restrictions in issuing credit beyond the date prescribed by CA Sunil Kumar , but if you need to take GST effect then need to be issue with in above mentioned period.

Note : It's better to issue a bill in case of goods return

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