Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Credit note

Save Share

This query is : Resolved

mandeep (Querist)
Follow

26 March 2018 Dear Sir,

Greetings

I have a query related to credit Note for sample invoice .

I sent sample material to buyer for testing purpose and issue invoice at that time with charge IGST tax , now he asking for credit note for the same invoice .

could you please clarify me that can I issue credit note for this invoice ,if yes then , can I take ITC which was paid by me to department in .

thanks in advance

RAJA P M

RAJA P M (Expert)
Follow

26 March 2018 Yes... You can take ITC for the Credit Note... Bcoz, You are also supplied with GST...

mandeep

mandeep (Querist)
Follow

30 March 2018 Dear Raja ji ,
thanks for the reply, but how can i take ITC bcoz material is not returning by the buyer ,it has utilized at their end for some trial . in that case department would we asked for the material if i take ITC on that credit note ..... i m so confuse sir please clarify the same . MATERIAL HAS BEEN UTILIZED BY THE BUYER WHICH WAS TAXABLE .

Please reply ,hope u understand my query

Regards

Mandeep

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

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!