I received the sold goods back of taxable value ₹30000 the tax amount is ₹ 1500/- the buyer issue me Debit note and I gave him a Credit note, so I write the details of credit note in gstr1 in debit/credit note section , after refreshing it shows the tax liability of ₹1500/- how it is my liability, actually it is my credit
so ,IAM confused so please guide me .
credit note concept
Replies (2)
sir this will reduce your tax liability . Just ensure you have entered credit note not debit note.
See this video to understand concept of debit note and credit note.
https://youtu.be/kkjIsrORrHM
https://youtu.be/kkjIsrORrHM
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
