How to adjust credit note in gstr 3b ..if i issue a credit note to my supplier then how will i adjust my credit note amount and its tax amt in gstr 3b... amount of tax present in credit note will be deduct from purchase itc or from outward tax liab
.please help me in this regard and also tell me what we will do it in gstr 1.. please help me in this regard
For GST purposes, CN will be issued by the supplier and not the recipient.
After supplier issues the CN, the recipient will reverse the ITC in GSTR-3B under column 4(B)(2).
No need to do anything in GSTR-1.
From the point of view of supplier:
He will deduct the CN taxable value and tax in GSTR-3B column 3.1(a).
And will mention the CN details against the corresponding invoice in GSTR-1.
The said CN will reflect in the recipients GSTR-2A.
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