GST Audit

Save Share

This query is : Resolved

Quick Summary

This discussion addresses whether GST needs to be reversed for discounts from FY 17-18 and FY18-19 that were recorded in FY 19-20. The general consensus is that if these discounts and their associated GST are not reflected in the GST 2A or 2A-CDNR, a reversal is typically required. However, if credit notes were issued without GST amounts, reversal may not be necessary.

CA Parul Saxena

CA Parul Saxena (Querist)

03 July 2020 Discount of FY 17-18 and FY18-19 entries made in FY 19-20 whether GST to be reversed?
2A doesn't reflect such discount yet.
Credit note although released in FY 18-19 and FY 17-18 but we counted these credit notes in FY 19-20 still reversal required?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 July 2020 Yes, reversal required as it's not reflecting in 2A.

CA Parul Saxena

CA Parul Saxena (Querist)

04 July 2020 I mean to say that Counter party doesnt mention such discount in its return and in turn its not reflecting in 2A-CDNR section...only original invoice value is reflecting in 2A...still are we required to reverse the GST amount.
Further credit notes issued by counter party doesnt mention GST amount.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

04 July 2020 Reversal not required in such a case.

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