Sir,
we have not accounted a Credit Note of Last Year, but the client adjusted a Debit Note.
So whether we can pass the credit note (Rate Difference Invoice) this year to get the paid GST refund....
please suggest.
You can report the Credit note related to 2021-22 till September 2022.Reporting the same in next return and adjusting your liability on outward supply is better way instead of getting refund through lengthy process.
Yes, if the credit note relates to FY 2021-22, you can report the credit note in GSTR 1 up to September 2022 and reduce your tax liability in GSTR 3B.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
