Govind Inani (Business) (203 Points)
28 July 2011An assessee raised invoices in F.Y. 2009-10 & 2010-11. Now in 2011-12, he has issued credit note in respect of the invoices raised in 2009-10 & 2010-11.
Can he issue credit note in above case?
What is the time limit for issue credit note?
What are other servcie tax implications he has to keep in mind?
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 28 July 2011
There is nothing irregular in issuing credit note. If credit note is issued for the amount of service also , credit can be taken by the service receiver as per rule6(3) of Service TaxRules.
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