Treatment of gst credit memo / credit note

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2018 Dear Experts, please expalin treatment of Credit note / credit memo in GSTR-3b, how can adjust against outward liability in GSTR3B, please explain in brief.

Expert : Anonymous

Expert : Anonymous (Expert)

19 November 2018 Credit Note - Which is issued by You to Your Customers... In GSTR 3B return You ll less the value of Credit note (Basic & Tax) to Your Sales value (Basic & Tax). Show after less the values in GSTR 3B.

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2018 DEAR SIR, I MY HAVE RECEIVED A CREDIT FROM THE PARTY , KINDLY PLEASE GUIDE , HOW TO PROCEED IN GSTR-3B.

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2018 i have received credit notes from my supplier, pls explain clearly the treatment in GSTR-3B , how can adjust against outward liability in GSTR3B, please explain in brief.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 November 2018 If the Credit Note amount = taxable value (Rs. 100) + GST (Rs 18)
In GSTR 3B you will reduce Rs. 100 from the outward supplies and reduce Rs. 18 from the tax liability.
In GSTR1 the credit note will be shown separately.