CREDIT NOTE ON MEDICAL STORE PURCHASE BY SUPPLIERS
This query is : Resolved
04 December 2020
1. What is the maximum time available for supplier to raise the credit note?
2. What is the law for raise the credit note by supplier on the expired goods?
3. What if, the supplier gives the credit note with out reversing the GST component?
2. What is the law for raise the credit note by supplier on the expired goods?
3. What if, the supplier gives the credit note with out reversing the GST component?
27 December 2020
1. What is the maximum time available for supplier to raise the credit note?
= CN/DN to be raised maxmium by Sep of the successding FY. i.e., 180 Days from closing of FY
2. What is the law for raise the credit note by supplier on the expired goods?
=https://www.mastersindia.co/gst/return-of-expired-drugs-medicine-under-gst
3. What if, the supplier gives the credit note with out reversing the GST component?
=If CN is raised after 180 Days from the close of the said FY no GST components can be included.
Hope this helps. Thanks
= CN/DN to be raised maxmium by Sep of the successding FY. i.e., 180 Days from closing of FY
2. What is the law for raise the credit note by supplier on the expired goods?
=https://www.mastersindia.co/gst/return-of-expired-drugs-medicine-under-gst
3. What if, the supplier gives the credit note with out reversing the GST component?
=If CN is raised after 180 Days from the close of the said FY no GST components can be included.
Hope this helps. Thanks
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