M receiving credit note from supplier whn turnover is exceeding specified limit..
now my supplier is not paying tax on it..
whether ths is valid as per GST law..?
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Credit Note..
Replies (2)
Ms. Parita.,
Your Query is not cleared...
But, As per assumption...
If you said the buyer get credit note from the supplier and You ll add the credit note value as Outward Supplies... Am I right?
If Yes, Credit Note is not considered in Turn Over value. It's just a Goods / Purchase Return. So, It's going to less on the Purchase Value...
That's all.
Your Query is not cleared...
But, As per assumption...
If you said the buyer get credit note from the supplier and You ll add the credit note value as Outward Supplies... Am I right?
If Yes, Credit Note is not considered in Turn Over value. It's just a Goods / Purchase Return. So, It's going to less on the Purchase Value...
That's all.
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