Can raise credit note in feb 2018 for july 2017 month sales?

Save Share

This query is : Resolved

Bazeer Ahmed (Querist)

12 February 2018 Sir,

Kindly advise / suggest can we raise a credit note for the sales transacted in July 2017 in GST. Any time limit for raising such credit notes and in what nature it should be like cash discount / quantity discount.
Thanks in advance,

with regards,

Bazeer L

Arpit

Arpit (Expert)

12 February 2018 Any registered person who issues a credit note in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in such manner as may be prescribed:

Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person.

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