I purchased a taxable product on 05/08/2021 and take input in gst. Now I have returned some of this product due to expiry of product and some for damage on 26/03/2022. Seller issue me credit note without mentioning gst amount. They are explaining that after 6 months output tax can not be reversed. without their taxable credit note I can not reverse my input gst.
Is it right procedures?
Can anyone guide me...?
As per the provision of section 34(2) of CGST Act,2017 time limit to issue Credit note is as under: “A supplier can issue a credit note against a Tax Invoice on or before 30th September of the next financial year or the date of filing of annual return pertaining to the Tax Invoice, whichever is earlier.”
so in this case he can issue credit note till 30th sept 2022, and you also have to reverse the input.
CAclubindia
