Sales return in GSTR1 urgent Oct 2020

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This query is : Resolved

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This discussion addresses an urgent query regarding sales returns recorded in October 2020 for goods sold in November 2019. The user is concerned about how to report these returns in GSTR1, as the deadline for such adjustments was September 30th, 2020. The advice suggests that the opportunity to claim GST credit for this return may have been missed. Options include issuing a credit note without GST or not showing the credit note in GSTR1, treating it as a financial credit note.

CA Parul Saxena

CA Parul Saxena (Querist)
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10 November 2020 Our organisation has recorded Sales return in Oct 2020 of material sold in Nov 2019.. what to do how to show it in GSTR1 as the last date to record such return was 30th Sep 2020..

Lekhraj sood

Lekhraj sood (Expert)
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10 November 2020 You have missed the bus.You will have to lose GST on the sales return.

CA Parul Saxena

CA Parul Saxena (Querist)
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11 November 2020 ok but please tell me how to show these returns in returns?

Lekhraj sood

Lekhraj sood (Expert)
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11 November 2020 You can issue the credit note without GST and show in the GSTR1 of the month in which you issue the credit note.You may also opt to not to show this credit note in GSTR1 as this would be financial credit note.

CA Parul Saxena

CA Parul Saxena (Querist)
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11 November 2020 My problem is credit note already issued with GST...how to show it in GSTR1? I am opting to not show it in GSTR1 is it ok?

Lekhraj sood

Lekhraj sood (Expert)
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11 November 2020 What is amount of GST and when was it issued and accounted in your books?

CA Parul Saxena

CA Parul Saxena (Querist)
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11 November 2020 5000 is the gst amount and it was issued on 15th oct for the sale of nov 2019

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