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Time Limit to issue credit note.

Shinoj Davis (112 Points)

28 December 2022

Sir/ Madam,

Have any limit to issue credit note as per GST law or rule ?.

Thanks and Regards
Shinoj

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3 Replies

Mitali (Finance Professional) (11146 Points)
Replied 28 December 2022

There is no specific limit prescribed under GST laws or rules for the issuance of credit notes.

2 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14217 Points)
Replied 28 December 2022

As per section 34(2) of the CGST Act, time limit to issue Credit Note is September month, following the end of Financial year in which such supply was made or date of the relevant Annual return whichever is earlier.

2 Like

Raj Traveller (2 Points)
Replied 12 June 2023

For Example, One Registered buyer who bought goods from One Registered Seller on FY 2020-21. Now due to some issues he is closing his business and returning all the stocks to Seller. In this case what to do if we found any Goods which were sold in FY 2020-21 and how to issue a Credit Note for those goods ?