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credit note

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2011 I have issued invoice nov'10 but party returned material on june'11 we have received full payment from party. can we issue credit note to this F.Y. 2011-12 ? please let me know maximum period for issuing the credit note?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 July 2011 In VAT/CST sales return allowed up to 6 months from the date of sale. so in your case time is over, you cant reversed the sale
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