We need your guidance regarding a situation where credit notes issued by us have been rejected by the recipients in the new GST Invoice Matching System (IMS). As a result, we have repaid the GST amount related to those credit notes.
We seek your advice on the following points:
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How should this be correctly reflected in the upcoming GSTR-3B return?
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Do we need to reverse the adjustment made earlier for the credit notes or simply add back the tax liability?
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Is there a provision to rectify or delete the credit notes in GSTR-1, or should they be retained as originally filed?
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Are there any additional compliance or reporting steps we must follow in such cases?
Your expert opinion will help us ensure accurate reporting and compliance.
CAclubindia
