Can we issue replacement stock instead of credit note against expiry goods received from our customers
can we reverse input credit on replacement quantity
pl explain under gst act
4 Replies
Arunn Auto Sparess
(203 Points)
Replied 08 November 2018
first you create credit note for return of expiry goods and then make a new invoice for the supply of goods
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 08 November 2018
I THINK I HAVE REPLIED EARLIER ALSO IN THIS REGARD, THE CBEC SPECIFICALLY CLARIFIED BY ISSUING THE CIRCULAR 72/46/2018, DT. 26.10.18, THE WHOLE PROCEDURE TO BE FOLLOW WHEN EXIPRED GOODS BEING RETURN & IT HAS TO BE RETURN/FRESH STOCK ONLY BY ISSUING BILL (BY RECEIPEINT) OR CREDIT NOTE (BY SUPPLIER)
HENCE IF YOU ISSUE THE CNT THEN YOUR ITC WILL BE REVERSE & ONCE YOU ISSUE THE FRESH STOCK YOU HAVE TO RAISE THE BILL FOR THE SAME
Recent Topics
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
Related Threads
CAclubindia
