29 November 2020
Dear expert suppose seller sold the goods to party last month and within one week party refused to take goods more. then seller transferred the stock to his nearby 2nd party same day. he showed credit notes of 1st party divided in parts (due to e-way bill ) and generate sale invoices to 2nd party of same stock in last month. is it right procedure for this situation ?? what if 1st party give him debit note for the same in current month as he showed sale return in last month.?? please give your suggestion. thanks in advance.
01 December 2020
Such a practice can invite trouble for you. The right thing would have been to generate another E-way bill (based on the invoice to second party ) for second party showing consignor place as premises of 1st Customer. The first party can not give debit note as not allowed under GST by the Recipient.
01 December 2020
but sir now seller already transferred all the stock having amt. around 2 lacs from 1st party to 2nd party last month. he simply takes 5-6 debit notes from 1st party having amt. below 50k in different dates of last month and give credit note against the same to 1st party and then billed 5-6 invoices to 2nd party having amt. below 50k in different dates of last month. & seller also filed gstr1 of oct. month. so now what is the right option for seller ?? sir please guide.
CAclubindia
