suppose I purchase goods in march and ITC of this amount is shown by me in all other itc column of March 3b
#now in April I return that goods
whether in gstr 3b I should net off that ITC with ITC of April month and shown in all other itc or I should show it in ITC reversal others
what is the correct treatment
5 Replies
Vinod Babu
(24191 Points)
Replied 22 May 2018
You ll raise Debit Note for Purchase Return and Send the material to your supplier. After he received then he will show the details in his GSTR 1. You ll less the value in Your GSTR 3B return...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 May 2018
At the time / month of Goods return with Your debit note You will less the Debit note value (tax) In Your April month ITC...
If You don't have any inwards in April then You ll be add the Debit note Tax value in Your Outward supplies value...
No need to wait supplier upload his credit note in their GSTR 1 return...
If You don't have any inwards in April then You ll be add the Debit note Tax value in Your Outward supplies value...
No need to wait supplier upload his credit note in their GSTR 1 return...
Anmol Singla
(808 Points)
Replied 22 May 2018
no I am asking whether purchase return ITC has to be shown in ITC reversal or shown under all other itc after netting of purchase
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 22 May 2018
reverse the itc in next month
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