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Gst credit note

S S KALVI (SMO) (94 Points)

26 March 2018

Can make credit note (of sales return, expiry goods) with GST for all retailer irrespective of whether GST registered , composition scheme , unregistered. Because when we sale these goods to retailer we collect GST from them.

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4 Replies

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 26 March 2018

I think yes u can, as there was some notifications or circular was issued in this regard for expiry medicine can be taken back

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Poonamchand Varma ( Student) (204 Points)
Replied 26 March 2018

yes u can rised a credit note

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 26 March 2018

As per CBEC via letter 349/57/2017-GST dated 26/12/2017. on expiry medicine u can issue a credit note, but to the prescribe limit as per sec 34 Cgst before , sept fy or annul return whichever is earlier.

Dilip Darji (392 Points)
Replied 26 March 2018

Dear Sirs. The provisions to issue Credit Notes are mentioned in Section 34(1) (2)and (3) of CGST Act, 2017. Credit Note cannot be issued on account of renegotiation of prices after supply.. In such cases, Credit Note to be issued without GST. This would be more so when recipient is in position to avail input tax credit. Such credit Note, without GST, need not to be uploaded in monthly return. In your case credit note is likely to be issued for sales return, you can very well issue Credit Notes. in terms od Section 34 (1)(2) and (3). For expiry dated goods you cannot issue credit Notice with GST and you have to adjust GST amount commercially. Credit Note cannot be issued for bad debts.