Purchase Returns
Faheem Akram (802 Points)
13 June 2018
how to treat Purchase returns which is related to Inter state Purchase but there is no any purchase in Current month??
5 Replies
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 13 June 2018
Input tax credit has to be reduced in case of purchase returns.
If your supplier has issued credit note, you need to reduce that much from your eligible ITC in Form GSTR-3B. However, you don't have eligible IGST credit in the current month, negative credit cannot be entered in Form GSTR-3B. Therefore, you may have to consider in subsequent month. Request your supplier to issue credit note accordingly.
Faheem Akram
(802 Points)
Replied 13 June 2018
suppose it will not happend in future so in this case what to do of this Purchase returns?
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 13 June 2018
You can treat that much in inter-state outward supply and pay tax (IGST on purchase returns) that is the only way forward.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 13 June 2018
Yes ,... Agree with CA Padmasri
Or can put the figure in table 4 , Row (B) (2)
Or can put the figure in table 4 , Row (B) (2)
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