purchase return for composition dealer under GST
This query is : Open
19 October 2017
How to solve the following scenario :
A composite dealer purchased a product of rs 1000 with 100 rs GST,
later this person needs to return the goods to the supplier. How to do so ?
Please note that the composition delaer cannot collect tax or take tax credit of input.
19 October 2017
Purchase: Rs. 1000 + 100 = 1100
Will give Debit Note Rs. 1100...
So, Simple
Ask next doubt...!!
Will give Debit Note Rs. 1100...
So, Simple
Ask next doubt...!!
Message likes :
2 times
CA Altamush Zafar
(Expert)
19 October 2017
The supplier will have to give debit note
19 October 2017
Sorry to say...
Supplier ll give Credit Note...
(I'm waiting for Querist reply. So I'm not telling this one)
Message likes :
1 times
CA Altamush Zafar
(Expert)
19 October 2017
My mistake, the supplier will give credit note
Message likes :
1 times
Rajannaidu
(Expert)
20 October 2017
In this case Supplier has to give the credit note for 1000+ GST Rs.100, The credit note should contains related information regarding transaction made with vendor with tax. Supplier is entitled to take ITC of RS.100 on the strength of credit note.
Credit note can be issued in the following situations
a. The supplier has erroneously declared a value which is more than the actual value of the goods or services provided.
b. The supplier has erroneously declared a higher tax rate than what is applicable for the kind of the goods or services or both supplied.
c. The quantity received by the recipient is less than what has been declared in the tax invoice.
d. The quality of the goods or services or both supplied is not to the satisfaction of the recipient thereby necessitating a partial or total reimbursement on the invoice value.
e. Any other similar reasons
Credit note can be issued in the following situations
a. The supplier has erroneously declared a value which is more than the actual value of the goods or services provided.
b. The supplier has erroneously declared a higher tax rate than what is applicable for the kind of the goods or services or both supplied.
c. The quantity received by the recipient is less than what has been declared in the tax invoice.
d. The quality of the goods or services or both supplied is not to the satisfaction of the recipient thereby necessitating a partial or total reimbursement on the invoice value.
e. Any other similar reasons
Message likes :
1 times
22 October 2017
if the buyer issues only a credit note how can the supplier take input credit on purchase return .?
22 October 2017
Don't be confused Brother...
Buyer ll be give Debit note to Supplier. Also it's inward supplies for Supplier's hand. He take ITC in Sales return (Debit Note)
Message likes :
2 times
23 October 2017
Really good and Appreciate You Dear..
Also You are most welcome...
Message likes :
3 times
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
- Query on effect of registration of property
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
