Credit note
This query is : Resolved
Anshuman Basu
(Querist)
04 March 2020
In the month of May 2019 we sale to party for Rs. 13,40,317/- + 204455/-(IGST) = Total Invoice value Rs 1340317/-.
In the month of February 2020 the party return the some part of the materials to us ( technical ground), accordingly we generate Credit note to party for Rs 739066/-+ 1,33,032/-(IGST) = Total credit note value is Rs 8,72,098/-.
In the month of FEBRUARY 2020 we have no business and I thinks March 2020 will be no business .
We have no Cash Ledger balance and no Credit Ledger Balance in our GST Portal and we have no GST Liabilities
Now question is-
1/How I adjusted the credit note amount for Rs 133032/-in our GSTR 1 and GSTR 3B?
Should we put in GSTR3B column no 4B (ITC Available) for Rs 133032/-
Please Guide us in this case
In the month of February 2020 the party return the some part of the materials to us ( technical ground), accordingly we generate Credit note to party for Rs 739066/-+ 1,33,032/-(IGST) = Total credit note value is Rs 8,72,098/-.
In the month of FEBRUARY 2020 we have no business and I thinks March 2020 will be no business .
We have no Cash Ledger balance and no Credit Ledger Balance in our GST Portal and we have no GST Liabilities
Now question is-
1/How I adjusted the credit note amount for Rs 133032/-in our GSTR 1 and GSTR 3B?
Should we put in GSTR3B column no 4B (ITC Available) for Rs 133032/-
Please Guide us in this case
CA PARAS BAFNA
(Expert)
04 March 2020
In GSTR-1, you can file the details of credit note under CDNR.
In GSTR3B we have the only option to show it as ITC available.
In GSTR3B we have the only option to show it as ITC available.
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