GSTR3B & Credit note
This query is : Resolved
12 December 2019
Dear sir,
I have issued a credit note in Nov. 2019 month to my party.
But we don't have outward supply in this month.So how we show above credit note in nov. 2019 GSTR 3B
Kindly help me.
I have issued a credit note in Nov. 2019 month to my party.
But we don't have outward supply in this month.So how we show above credit note in nov. 2019 GSTR 3B
Kindly help me.
12 December 2019
There is a circular to handle negative amount in GSTR-3b.
Refer circular # Circular No. 26/26/2017-GST, Dt.29/12/17 (4). Where it is clearly mentioned that if we have sale return in a month is more than sales, we will file the GSTR-1 in normal way. But will not show this negative amount in GSTR-3B for that month. By doing so we will end up paying more tax for that month. In subsequent month(s) we will show less amount by this differential amount in GSTR-3B compared to GSTR-1 of that month and will pay less. Though there is no option to setup this in the portal, the cumulative balance of GST liability in the ledger will get nullified.
Adjust Sales Return in GSTR 1 for the month of Nov 2019 and adjust 3B in subsequent month GSTR 3B .
Refer circular # Circular No. 26/26/2017-GST, Dt.29/12/17 (4). Where it is clearly mentioned that if we have sale return in a month is more than sales, we will file the GSTR-1 in normal way. But will not show this negative amount in GSTR-3B for that month. By doing so we will end up paying more tax for that month. In subsequent month(s) we will show less amount by this differential amount in GSTR-3B compared to GSTR-1 of that month and will pay less. Though there is no option to setup this in the portal, the cumulative balance of GST liability in the ledger will get nullified.
Adjust Sales Return in GSTR 1 for the month of Nov 2019 and adjust 3B in subsequent month GSTR 3B .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
