14 June 2021
Dear sir : One of my dealer purchased material for Rs.3,00,000 in January 20. Material was rejected due to bad quality. Seller was informed accordingly. He did not remove the material and it became weathered and ultimately became non usable. Can I issue a debit note in current date by reversing GST ... kindly advise.... Regards.. Pardeep kapil
15 June 2021
Yes, you can issue debit note. But if you already utilized the ITC (without payment of consideration), then you have to reverse the same with interest. If you require any clarification, please contact me on nine nine zero one eight four one one five zero.
CAclubindia
