05 June 2021
Dear Sir, In February month i have raised 100 Rs invoice and in March my sales in 20 Rs and i need to raise credit not amount Rs 50. But due to lockdown my business is not working and i am sure that till September my revenue will not cross Credit not amount. than how to show credit not in my GSTR 1 and 3B. if September will cross than as per norms i can not raise credit not for Previous years sales.
Your prompt response and technical knowledge will helpful for us.
05 June 2021
Raise credit note and show it in GSTR 1 which is allowed. Only problem is GSTR 3b which doesn't allow negative value. Consider it in annual return you will get credit.
CAclubindia
