One of my client is not filed GSTR1 for the year 2017-18 in the stipulated time. Because of this reason the customer as not got the input credit in GSTR2A. Hence He had deducted the tax part alone from the customer payment in 2019-20. Is it tenable? . For this reason if the customer raises credit note against my client which can be reversed in clients GST payment in the current year or not. Please advice.
1 Replies
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 08 May 2020
Yes, you can certainly deduct the tax amount if he has failed to make payment to the government. There is no restriction under the GST law. It is a business decision.
The customer could raise a financial credit note to give effect to this reduction. This credit note is not required to be disclosed in the GST returns.
The customer could raise a financial credit note to give effect to this reduction. This credit note is not required to be disclosed in the GST returns.
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