Furnishing Credit note in GSTR 1 return and the eligibilty

This query is : Resolved

A.S.SUNDARARAJAN

A.S.SUNDARARAJAN (Querist)
Follow

11 December 2019 I request expert opinion eligibility/ showing credit note in GSTR 1 ( Sales return)

One dealer raising invoice in March 19. The customer raising Debit note towards rejection of consignment against March 19 raised invoice in December. If the Debit note is raised by the customer , the dealer is account through credit note in books and GSR1 return.

My query is if the dealer mention the credit note in return , the system will ask the invoice reference. As per GST Act, the Debit / Credit note to be raised before 30th September of the succeeding financial year or filing of annual GST return which ever is earlier. Hence the system will permit to mention March invoice date ? Even it is permitted is it correct as per GST Act?

Thiyagarajan Kandasamy

Thiyagarajan Kandasamy (Expert)
Follow

11 December 2019 I think the time limit specified for Input Tax Availing process, not for output tax. So Customer returned the product means that is "Sales Return", So we can make sales return in our books in the current month. And mainly if it was a B2C Customer it will be adjusted in the current month sales.

A.S.SUNDARARAJAN

A.S.SUNDARARAJAN (Querist)
Follow

11 December 2019 Thanks for reply.

Even though the customer raises debit note for rejection , we have to raise Credit note for the same while filing GSTR 1 return.

I have gone through the provision of section 34 of CGST act Section 34 (1) furnishes the circumstances of issuing debit note - lesser value charged, lesser GST charged and circumstances of issuing credit note like rejection due to recipients, short receipt , rate difference etc.

Section 34 (2) furnish that both Debit and Credit note to be issued before the end of sep 19 of the next financial year or filing GSTR annual return which ever is earlier. Hence I asking whether GST credit can be availed for rejection made in Dec 19 by the customer for March 19 raised invoices

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

11 December 2019 No , You can not avail credit for rejection made for March 2019 invoices .
As you rightly said , Sec 34(2) specifically restrict for issuing credit note and availing ITC beyond the prescribed period ( Though , I understand portal is allowing availing credit beyond 20th October 2019 )

Thiyagarajan Kandasamy

Thiyagarajan Kandasamy (Expert)
Follow

16 December 2019 Yes Cross check to the section it was correct.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

PRAVIN S PANISHETTI

Rajesh

Ashish

CA Aakarsh Jain

kopparapu bheemarao

Subscribe Now

Furnishing Credit note in GSTR 1 return and the eligibilty

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA