3b if sales return exceed outward supply

This query is : Resolved

Share Report Follow Query Ask a Query

Selva

Selva (Querist)
Follow

10 May 2019 Kindly Clarification issues based 3b if sales return exceed outward supply..????

Punit Gupta

Punit Gupta (Expert)
Follow

10 May 2019 Hello Selva,
Greetings.
GSTR 3B is to be filed for respective months in all cases, even if there is no supply for any period.
In your query, if the Sales return exceeds the outward supply, the respective accounting entries will impact the total tax liability for that period and accordingly you might have to pay No taxes, depending upon taxability of the goods being returned.
Also, keep handy the respective documents/evidences to support your claim in case of sales returns exceeding the outward supply.
Hope this clears your query.
Feel free to reconnect.

Message likes : 1 times

Selva

Selva (Querist)
Follow

11 May 2019 Sales Taxable Value 1,00,000. CGST - 9,000. SGST - 9,000 Then Sales Return ( Credit Note ) 1,20,000. CGST - 10,800. SGST - 10,800
How To Fill in 3B Outward Supply (All Are Registered Dealer)

Neljo Davis ACA

Neljo Davis ACA (Expert)
Follow

16 May 2019 Show Nil taxable value and tax liability in the current month GSTR 3B and Adjust the balance amount of sales return in the subsequent month GSTR 3B

Punit Gupta

Punit Gupta (Expert)
Follow

17 May 2019 Hello Selva,
Greetings.
The details are filed on Net basis in GSTR3B.
So, Value of Taxable Supplies = Value of invoices + value of debit notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices
Just adjust the credit note value to total outward supply, and in your case it shall be negative, thus not to be filed in 3B.
Also carry forward any balance amount to next filing period.
Hope this clears your query.
Feel free to reconnect.
Regards:

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anju Susan

Rohit Sachdeva

jagadheswar goud

T Ramachandran

rana andcompany

Subscribe Now

3b if sales return exceed outward supply

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA