LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

credit note

Sri Snigdha (Articles Assisstant) (497 Points)

21 March 2019

as we are the suppliers, we got some sale returns from the retailers relating to the goods before gst.. we have issued the credit notes for them.. where we can file the credit note issued in gstr 1

Reply
Follow
Share

6 Replies

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 21 March 2019

Credit notes with GST element - To disclose under CDNR in GSTR 1 and apporpriately adjust in GSTR 3B Table 3.1.a/3.1.b

Financial credit notes(without GST element) - need not be disclosed in GST returns. Does not affect tax element.

RAJA P M ("Do the Right Thing...!!!") (127162 Points)
Replied 21 March 2019

(relating to the goods before gst.)

what is this meaning of "before GST"...?

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 22 March 2019

Originally posted by : Sri Snigdha
	as we are the suppliers, we got some sale returns from the retailers relating to the goods before gst.. we have issued the credit notes for them.. where we can file the credit note issued in gstr 1

I missed before GST in earlier reply. Please consider below:

By before GST, if you meant goods sold pre-GST regime and sales return in GST regime, then refer section 142(1) of CGST Act -

Good returned by registered person - deemed to be a supply - person returning goods to charge GST on the supply.

Goods returned by un-registered person - if returned within 6 months - registered seller can go for refund of tax under the pre-GST regime law (Ex: Excise/VAT).

If received after 6 months cannot claim refund.

GST liability cannot be reduced on account of such sales returns.

1 Like

Sri Snigdha (Articles Assisstant) (497 Points)
Replied 22 March 2019

but the we, the suppliers has issued the credit note without effecting the gst since the goods related to pre gst regime.. how it could be rectified?

RAJA P M ("Do the Right Thing...!!!") (127162 Points)
Replied 22 March 2019

Ha ha ha ha ha ha...
okay okay.👌👌👌👌👌

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 22 March 2019

Ideally you should have gone for refund under earlier laws (not GST). If CN without GST is raised, then also no impact, as the taxes have not been effected. The VAT/Excise paid under earlier regime would be a cost.

1 Like