Time limit for issue of credit noet

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This discussion clarifies the time limits for issuing credit notes for sales made in the financial year 2022-2023. Generally, credit notes must be issued before the earlier of 30th September of the following year or the date of filing the annual return. While credit notes can technically be issued after these cut-off dates, any taxes paid cannot be reversed, and only the base value can be adjusted. It's also confirmed that a purchaser cannot issue a debit note to their supplier directly.

Kunjan

Kunjan (Querist)
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08 January 2024 a sale made in fy2223 , can i issue credit note in dec 2023?
my view > no, as it has to be isued before 30 nov 2023 (as annual return date was 31.12.2023)

also, purchaser cannot issue debit note to his supplier, right?

RAJA P M

RAJA P M (Expert)
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08 January 2024 Yes, You are exactly correct. But, You can deal it through sale/purchase.

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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14 January 2024 I think It should be declared on earlier of the below dates:
1.30th September of the following year in which such supply was made.
2. The actual date of filing the annual return of the concerned period.

Again you can issue any CN/DN after cut off dates as well but taxes paid can not be reversed and only base value can be issued as CN/DN

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