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Credit note

Prachitee gadge (26 Points)

10 February 2021

In Jan 21return filling will be consider the Jan 20 Credit notes ?

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Analytic Business Consulting (150 Points)
Replied 10 February 2021

As per section 16(4) changes if any for a F.Y can be done till the due date of the September return of next F.Y.

Thus, the credit notes pertaining to P.Y cannot be considered and you can declare such in GSTR 9 and file it with excess payments if any.

However, please consult or seek any other experts opinion also

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 11 February 2021

Agree with Analytic

Prachitee gadge (26 Points)
Replied 11 February 2021

Ok Fine But .....sale are done in January 20 and there credit note pass on the date Nov 21 so what will be do?

Analytic Business Consulting (150 Points)
Replied 11 February 2021

Sale and credit note are different, if the credit note is of November 2020 then you can call consider the credit note since it is issued in C.Y ie, 2020-21.

However im not aware that if there is any other provisions that limits the time period of issuing credit notes on sales made. if there is no such limitations then you could consider it and do accordingly.

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Prachitee gadge (26 Points)
Replied 11 February 2021

Ok thanks you

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CA Altamush Zafar (GST Consultant) (15966 Points)
Replied 13 February 2021

Credit notes can be created but the same will not be reducing gst liability. Therefore these credit notes will not have any gst impact since the time for creating such credit notes were till filing of September 2020 return due date