10 December 2018
We are service provider and are registered in GST. In August 2018 we had issued invoice of Rs. 236000( 200000 + 18% IGST) to our Client who is also registered in GST. In Nov 2018 we had issued credit note of Rs. 118000 ( 100000 + 18% IGST)
What is impact of credit note in GSTR-1 and GSTR 3B of Nov 2018...?
11 December 2018
You need to disclose the details of credit note issued in GSTR1, and reduce the value of taxable service in GSTR3B with the value of credit note while paying GST for Nov.2018.
11 December 2018
When you have issued sale invoice you must have debited the buyer and credited the sales. Now When you are crediting the buyer means you are reducing the sales amount correspondingly. So in your 3B of November you will pay deduct Rs 18000/- IGST from your IGST Liability and Sales of November will also be reduced to the tune of Rs 1,00,000/-. In your GSTR 1 you will make entry of credit notes in tile 9B with all the detail especially with original invoice. Please understand credit note can only be issued by the supplier of goods, it means you can reduce your tax liability but it must have been paid earlier and reflected in 3B and GSTR 1 of earlier or at least current month.
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