Can we claim or reverse GST paid for invoice raised in FY 2019-20 in FY 2020-21 due to client non payment. What is the procedure?
I know that the credit note should be issued before September. What is the solution now?
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GST Reverse on Tax paid for service invoice
Replies (2)
You can now create Financial Credit Note which will not have GST component and reverse the client outstanding amount. But you cannot reverse the GST now.
If the party agrees then ask them to cancel the invoice or send the ITC through fresh invoice
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