Sales Entry Reverce for the F Y 2018-19 and 2019-20

Save Share

This query is : Resolved

Quick Summary

This discussion addresses how to reverse sales entries from FY 2018-19 and 2019-20 in GST returns. While a credit note can be issued to reverse the entry, it's noted that the deadline to reduce GST liability for those periods has passed. Therefore, reversing the sale is possible, but the associated GST liability cannot be reduced for the original tax periods.

SHAILENDRA MISHRA

SHAILENDRA MISHRA (Querist)
Follow

16 December 2020 Dear Sir,

With reference to above Subject, Sir our Some Sales Entry in for the f.y. 2018-19 and 2019-20 which is shown in GSTR1 and GSTR 3B for the Same, Now we wants to above Sales entry reverce in GSTR 3B and GSTR1 in the Month of November 20, and December 2020,While above Sales entry Itc not taken by Customer.

Kindly Suggest above Sales entry reverce Possible in GST Retun for the Same.

Rgds With
Shailendra Mishra

SHAILENDRA MISHRA

SHAILENDRA MISHRA (Querist)
Follow

16 December 2020 PLEASE REPLY FOR THE SAME

Lekhraj sood

Lekhraj sood (Expert)
Follow

16 December 2020 You can reverse the sale entry by issuing a credit note. However,you can not reduce your gst liability as the date for the same is over on 20th October of the respective year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!