Credit note

sir/madam

we sold material in my 19-20
there is rate difference in sum invoice, so, can we raise credit note in this year i.e. 20-21

my doubt is, Will accept this credit note against previous year invoice, while filing gstr1 in May 20. kindly clarify pls
Replies (7)
Quick Summary
This discussion clarifies whether a credit note can be issued for a previous financial year (2019-20) in the current year (2020-21). According to Section 34(2) of the CGST Act 2017, credit notes can be declared in your GSTR1 return up to September following the end of the financial year or the date of the annual return, whichever is earlier. Therefore, a credit note for the 2019-20 financial year can indeed be filed in the May 2020 GSTR1 return, provided the original invoice details are entered correctly.

As per  section 34(2)  of the CGST act  2017  , you can  raise credit note  up to September  2020  or annual  return  whichever is earlier  and show in GSTR1  pertains  to earlier  year  .i.e  F.Y  2019-20 . 

please confirm  with  others also 

Thank you
As per section 34(2) any registered person who issues a credit note in relation to a supply of goods or services or both shall
declare the details of such credit note in the return for the month during which such credit note has been issued
but not later than
• September following the end of the financial year in which such supply was made; or
• the date of furnishing of the relevant annual return,
whichever is earlier.

Therefore GSTR1 of May2020 will accept credit note against previous year's invoice. Just ensure that you do not make any mistake while entering orinigal invoice date and original invoice number in table of Credit/Debit Note in GSTR1.
Yes you can show this credit notes in may'20 gstr1returns but not later than sept'20
Yes it is possible
Yes you can raise credit note for previous Fy upto September 2020.
Yes you ca raise credit note in may 20 gstr1 return.

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