I've retail medical shop
when I return expired medicine to wholesaler some gave full amount at which I purchased while some did not in credit note they tell they have debited ૧૨% of gst
plz clear me about that rule
5 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 26 November 2019
Kindly Refer Circular No. 72/46/2018-GST , Date 26/10/2018 for complete clarification on Expired medicine Return .
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 26 November 2019
haan ji
as circular per circular , aap bill ya credit note issue kar key expire goods wapas karney key liye.
aur suppose aap ney bill issue kar diya expired medicine ka to supplier/manufacturer ko toh , manufacturer/supplier us expired medicine ko destroy kar deta hai & as per section 17(5) , manufacturer/supplier ko bill per charged ITC reverse karna padtha hai.
note : agar aap credit note jo ki as per provision of section 16 cgst act key anusaar next fy key sept- month key baad issue karta hai to uska itc aap reverse nahi kar saktey & moreover the supplier also bhi apni output tax liablity reduce nahi kar sakta ... aur ish traha ka credit note aap ko portal per bhi upload nahi karna hai
shyam thacker
(5 Points)
Replied 27 November 2019
My question is agar koi product mrp 100 ,or rate 71.5+12 %gst hai ... when I return that product when expired some gave me credit note of amount 80while some 71.5 why so. ??
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 28 November 2019
dear shyam ji
ab yeh toh aap ko supplier ko poochna padega, lekin jaisa ki circular main hai ki supplier ko jahan apni output tax liablity reverse kar leta hai wahan woh aap ko 80/- cnt de deta hoga aur jahan per woh nahi kar pata (as per circular) wahan aap ko 71.5/- ka credit note deta hoga
Recent Topics
- Requirement to prepare Consolidated financial stat
- Government grant not repayable
- Late fess for challan PMT 06 under self assessment
- Sustainable Luxury with Timeless Beauty – Ex
- Rebate u/s 87A on short term capital gains
- Unclaimed TDS of Previous Year
- FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR
- Available for rent
- Refund of Excess TDD
- Business code under section ADA -WHERE TO FILL
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
