If supplier provided credit note without tax,how will be the treatment for it in our books of accounts and GST?
Menu
Credit Note
Replies (6)
Why no tax ( GST) in credit note ?.
The reason they are telling that,it was a damaged goods and they can't sell it any more.
Ok , but earlier supplier issued tax Invoice charging GST and then after that goods were not sent due damage ,and credit note pass without GST , Is it correct ?.
Adjust in the taxable amount , if any damage caused , but raise with GST also!
If supplier does not mention tax component in credit note, he can not reduce tax liability in that transaction. He will have to pay tax on original value. Therefore credit note issued has no gst consequences.
You are Right
Recent Threads
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
Related Threads
CAclubindia
