Get Answers to 3 GST Queries FREE with Expert CA guidance from CAclubindia Pro. Subscribe Now!

Credit note in gst if invoice in previous year

ITC / Input 306 views 1 replies

Sumit Songara

Assistant Executive

51 Points Joined October 2013

In GST can it possible to raise Credit Note in FY 18-19 for an invoice which is raised in FY17-18 ???

If such Credit Note is permissible than whether tax paid is reversed or any other procedure ???

Please give some reference of provision of GST for understanding.

Replies (1)

CA Shrey Tripathi

Proprietor at S I Tripathi & Co.

154 Points Joined February 2013

Credit note can be raised upto September of next year or date of filing annual return, w.e. is earlier.

So in your case ,you can raise credit note upto sept 18 and reverse tax paid earlier only if issued as per situation mentioned in section 34 of CGST act