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credit note amount

NAGA (ACCOUNTANT) (518 Points)

16 February 2018

Sir, In Jan there is no payable amount, but some credit notes are there, Can i show credit note amount 'all other itc' in 3B.

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8 Replies

Divakar (Student CA Final ) (11857 Points)
Replied 16 February 2018

Yes u can... That is ur itc

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RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 16 February 2018

Yes... You can.

If You have any Outward supplies then Less the Credit Note values in Your Outward Supplies.. Otherwise You can show it in "ALL OTHER ITC" column...

NAGA (ACCOUNTANT) (518 Points)
Replied 16 February 2018

Thank you very much sir

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 16 February 2018

Originally posted by : NAGA
	Thank you very much sir

You are welcome

NAGA (ACCOUNTANT) (518 Points)
Replied 10 March 2018

Dear raja Sir, one small doubt, actually it is not purchase (only sales return), if I Show in itc column, it is reflected on purchases. so is it correct to show in itc, and is there any problem in audit. please kindly clarify sir.

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Divakar (Student CA Final ) (11857 Points)
Replied 10 March 2018

U can less it from ur output tax liability

NAGA (ACCOUNTANT) (518 Points)
Replied 10 March 2018

sir, but output tax liability is less than credit note value and what about balance amount.(credit note - output tax).

Divakar (Student CA Final ) (11857 Points)
Replied 10 March 2018

Then show it as ur itc in gstr3b... In gstr3b no purchase details has been entered.... In GSTR1 ur output liability came less as u entered credit note also... So no problem at all