A Murthy (Article Student) (10 Points)
15 March 2022Can 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?
CA Puja Sharma
(Chartered Accountant)
(4972 Points)
Replied 15 March 2022
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.
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 15 March 2022
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
