Input credit reversal for the FY2023-24
This query is : Resolved
16 November 2024
Dear Sir,
We have purchased some items in oct2023 based supplier invoice we have availed input credit in same period. present i.e nov2024 we return that material due to not suitable to us, supplier also agreed and passed the credit note to us.
Now we have to pass debit note from us and reverse the input credit proportionately for this case we need to pay interest on reversal amount.
We have purchased some items in oct2023 based supplier invoice we have availed input credit in same period. present i.e nov2024 we return that material due to not suitable to us, supplier also agreed and passed the credit note to us.
Now we have to pass debit note from us and reverse the input credit proportionately for this case we need to pay interest on reversal amount.
16 November 2024
Reversal based on credit note no interest payable.
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
