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Credit note deducted from ITC

15 June 2021

Sir,
1. the dealer while filing gstr3b, in ITC he deducted all credit note and filed.

2. also he has not shown in gstr1.

3. is it compulsory to entered in gstr1 (credit note)

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7 Replies

CMA Poornima Madhava (CMA) (13112 Points)
Replied 15 June 2021

The supplier generating credit note is required to upload the same in GSTR1 and the customer is required to reduce the same from ITC in GSTR3B.

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CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 15 June 2021

The supplier will file the document in gstr-1. The recipient will adjust the corresponding impact in his gstr3b in itc

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 15 June 2021

Yes credit note should be shown in Gstr 1

CA Mayank A Jain (Chartered Accountant in Practice) (1260 Points)
Replied 15 June 2021

The supplier of goods/service is required to disclose in his GSTR-1 however the recipient is not required to disclose in GSTR-1.

kumar rajat (285 Points)
Replied 16 June 2021

Yes credit note should be shown in Gstr 1
You show this credit note in next month's(same date from pervious month) Gstr-1. and you will see Gstr-3B automatically generated then credit notes will be suptracted from it.
This will make your Gstr-1 and gstr-3B match