Credit note and debit note reversal
This query is : Open
16 January 2021
I have got credit note from Amazon and debit note from a transportation service provider.
How to reflect credit note and debit notes in GSTR 3B and GSTR 1. Also how to reflect in ITC.
Please guide, I am totally confused.
How to reflect credit note and debit notes in GSTR 3B and GSTR 1. Also how to reflect in ITC.
Please guide, I am totally confused.
17 January 2021
I assume Amazon has given credit note as supplier (commission service).You do not have to show in GSTR1 but take ITC effect in GSTR3B.
18 January 2021
Thank You Sood Sir,
Yes, Amazon has issued me credit Note.
So, I have to reverse credit note GST amount in Table 4(2) (B) and I don't have to do anything in Table 3.1, not to show anything in GSTR1- Is the understanding correct?
Similarly, Logistics Provider has issued me debit note. So I increase my ITC amount to that extent alongwith normal ITC in Table 4 and don't have to show anything in Table 3.1, not to show anything in GSTR1 - Is the understanding correct?
Can I net off credit and debit note amount or better to show separately.?
Will be greatful for your guidance.
Yes, Amazon has issued me credit Note.
So, I have to reverse credit note GST amount in Table 4(2) (B) and I don't have to do anything in Table 3.1, not to show anything in GSTR1- Is the understanding correct?
Similarly, Logistics Provider has issued me debit note. So I increase my ITC amount to that extent alongwith normal ITC in Table 4 and don't have to show anything in Table 3.1, not to show anything in GSTR1 - Is the understanding correct?
Can I net off credit and debit note amount or better to show separately.?
Will be greatful for your guidance.
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