GST Audit

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This query is : Resolved

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

CA Parul Saxena

CA Parul Saxena (Querist)
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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)
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04 July 2020 Reversal not required in such a case.

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