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GAT CREDIT NOTE

sayad (Executive) (179 Points)

14 November 2023

CAN SOMEONE PROVIDE INFORMATION ON BELOW

WHEN SUPPLIER CREATE AND SUBMIT CREDIT NOTE IN HIS GST PORTAL WILL IT REFLECT IN PORTAL OF BUYER - IF YES OK WHAT IF ITS DOENT REFLECT IN BUYER PORTAL HOW WILL BUEYR KNOW ABOUT IT BECUASE THERE ARE POSSIBLITY THAT SUPPLIER RAISE CREDIT NOTE AND CLAIM THE INPUT AND BUEYR WHO HAS CLAIM THE INPUT MAY END UP PAYING PENALTY FOR EXCESS CAILM

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5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 14 November 2023

As per section 34 of the CGST Act , Supplier first has to issue Credit Note Copy ( physical Copy ) as per format mentioned rule 53 of the CGST rules to Customer/ Byer , when he creat Credit Note , and then he has to report on portal .

sayad (Executive) (179 Points)
Replied 14 November 2023

ok what if the supplier try to do any mischive i mean He dont issue me credit note and without my knowledge he update credit note on portal How to check in portal as a buyer the credit note updated by seller

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 14 November 2023

Such Credit Note you may view in part B ( ITC reversal ) of GSTR2B ., So check GSTR2B .

RAJA P M ("Do the Right Thing...!!!") (127475 Points)
Replied 14 November 2023

Of Supplier provide credit note and file in GST return then its shown in GSTR 2B.

If Supplier not filed then its not in GSTR 2b. in this scenario buyer ask about it.

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 14 November 2023

If supplier intentionally not issuing Credit Note to Buyer/ Customer and only filing in GSTR1 , as you mentioned in your query , same credit note you may view' in GSTR2B , as I mentioned in my earlier reply , however copy of Credit note is important for Audit purpose so registered receipent must obtain credit note copy, from supplier, others wise register receipent can report to department, supplier may penalised under section 125 of the CGST Act . ( contravention of the provisions of GST Act ) for not issuing Credit Note.