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Credit note

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Ravi KUMAR

34 Points Posted on 17 May 2020

any time limit for issuing credit note on sales return

Replies (5)

Quick Summary

This discussion clarifies the time limits for issuing a credit note related to sales returns. Generally, a credit note can be issued up to six months from the end of the financial year or before filing the annual return, whichever is earlier. This ensures timely adjustments for sales returns within the relevant financial period.

yash

accountant

519 Points Posted on 18 May 2020

Credit note can be issued on sales invoice before next 30th sept of that financial year or filling of annual return. which ever is earlier

suraj zanwar

Student CA IPC / IPCC

352 Points Posted on 18 May 2020

Section 34(2) of the CGST act says that any registered dealer can issue a credit note in relation to supply of goods or services up to aperiod of six months from the end of the financial year or the date of filing the annual return, whichever is earlier

Thanks

JASKARAN SINGH

435 Points Posted on 18 May 2020

It's means in financial year mein hi credit note issues hoga???

Aashok Kumar Sharma

Finance/Compliance Consultant

69623 Points Posted on 18 May 2020

The credit note pertaining to a financial year can be issued maximum on or before filling GSTR-3B for Sept of the subsequent financial year or before filling the Annual Return (GSTR-9) for the year which ever is earlier.