Credit note issuance
preeta prakash (32 Points)
20 May 2022
what is the time limit for issuing credit note
7 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 20 May 2022
For F.Y 21-22 , It's September 22.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 20 May 2022
There is no time limit for debit or credit note under GST.
There is time limit for claiming ITC .
There is time limit for claiming ITC .
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 20 May 2022
Refer section 34 of the CGST act 2017.
sabyasachi mukherjee
(27658 Points)
Replied 20 May 2022
Credit note issuance must be within the same financial year. After finalization of accounts and balance sheet adapted by the company there cannot be any issuance of credit note of last year.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 20 May 2022
You can also check rules for amending invoices
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 20 May 2022
It is clearly mentioned in section 34 of the CGST 2017, last month to issue Credit Note is September . please refer.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 20 May 2022
GST Credit Notes against the supply of goods or services can be issued not later than September following the end of the financial year in which such collection was made, or the date of furnishing of the relevant annual return, whichever is earlier
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