Credit note

if a party issued credit note for discount given on purchase then its iyc to be deducted from 3b.and hpw to report it in gstr1
Replies (2)
Quick Summary
This discussion clarifies the process for handling credit notes related to purchase discounts. The seller must report the credit note in their GSTR-1 filing. Consequently, the buyer needs to reverse their input tax credit (ITC) in GSTR-3B to match the value of the credit note.

The seller will upload the credit note in his GSTR1. You need to reverse input tax credit in GSTR3B to the extent of credit note.
Ok thank.u

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
14 November 2026
Manager - Indirect Tax (GST)

Westbridge Consulting LLP

New Delhi

CA

View Details
Company
ARTICLESHIP 14 November 2026
Article Assistant

Jitendra Agarwal & Associates

Bengaluru

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
13 November 2026
Chartered Accountant - Fresher

Neeraj Bhagat & Co

New Delhi

CA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details