CN Received
Kunal Pansari (Accountant) (1037 Points)
18 January 2020
Received Credit Note from Supplier on for Returned Goods and Rate Deduction. Should it be shown in GSTR-1?
Kunal Pansari (Accountant) (1037 Points)
18 January 2020
RAJA P M
("Do the Right Thing...!!!")
(127406 Points)
Replied 18 January 2020
| Originally posted by : Kunal Pansari | ||
 |
Received Credit Note from Supplier on for Returned Goods and Rate Deduction. Should it be shown in GSTR-1? |  |
Should it be shown in GSTR-1?
- It should be shown in Supplier's GSTR-1 return. Not for Buyers GSTR-1 return...
jayendra Gaonkar
(Asst. Manager)
(216 Points)
Replied 18 January 2020
Since,you have received the credit note from the supplier, you should book it as a debit note in your system. Thereafter, you should show it under debit note while filing GSTR 1 Return. Also, you should adjust your ITC if already availed on the past supply against the said credit note by the supplier of goods or services.
Kunal Pansari
(Accountant)
(1037 Points)
Replied 18 January 2020
RAJA P M
("Do the Right Thing...!!!")
(127406 Points)
Replied 18 January 2020
jayendra Gaonkar
(Asst. Manager)
(216 Points)
Replied 19 January 2020
@ RAJA P M. Yes you are right, but when supplier raises a credit note means he is reducing/making amendments in his previous outward supplies. Therefore, it has to be shown in GSTR 1. This has been already mentioned in Table 9 of GSTR1 . It reads as "9. Amendments to taxable outward supply details furnished in returns for earlier tax periods in Table 4, 5 and 6 [including debit notes, credit notes, refund vouchers issued during current period and amendments thereof." Check out the GSTR 1 PDF FORMAT
RAJA P M
("Do the Right Thing...!!!")
(127406 Points)
Replied 19 January 2020
| Originally posted by : jayendra Gaonkar | ||
|
@ RAJA P M. Yes you are right, but when supplier raises a credit note means he is reducing/making amendments in his previous outward supplies. Therefore, it has to be shown in GSTR 1. This has been already mentioned in Table 9 of GSTR1 . It reads as "9. Amendments to taxable outward supply details furnished in returns for earlier tax periods in Table 4, 5 and 6 [including debit notes, credit notes, refund vouchers issued during current period and amendments thereof." | |
YES... RIGHT....
BUT.,
WHY YOU/WE WILL THINK OURSELVES WITHOUT REPLY BY QUERIST...
ASK THE DETAILS FROM QUERIST THEN REPLY BASED ON QUERY....
--> CN NOT ONLY REPORTING IN GSTR-1 TABLE 9A... RIGHT...??
NOTE :
CN CAN BE PREPARING - NOT TOUCHING / CHANGING TO THE ORIGINAL INVOICE...
AMENDMENT IS OPPOSITE TO THE CN PREPARATION...
CAclubindia
