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Credit Note in GSTR 1 A

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Kishore Nuthalapati

Accountant for multiple small entities

171 Points Joined September 2022

Hi sir/ Madam

Can I raise Credit note in GSTR 1A so that I can reduce Output tax liability

we didn't receive Credit note till date as the due date for GSTR 1 is today

Will it possible to reduce output tax liability by raising Credit note in GSTR 1A

Please advise

Thanks

Replies (2)

Rama chary Rachakonda

Master in Accounts & high court Advocate

8827 Points Joined December 2011

Yes, you can raise a credit note in GSTR-1A to reduce the output tax liability. However, there are some conditions to consider: 1. *Time limit*: You can issue a credit note within the time limit prescribed under GST, which is: - Before the filing of GSTR-1 for the month/quarter. - Before the filing of GSTR-3B for the month/quarter, if the recipient has already filed their GSTR-3B. 2. *Conditions for issuing credit note*: - The supply has been completed. - The recipient has not paid the amount. - The credit note is issued within the prescribed time limit. 3. *Amendment in GSTR-1A*: You can amend the credit note details in GSTR-1A, but only if the original credit note was issued within the prescribed time limit. Considering the due date for GSTR-1 is today, you can still raise a credit note in GSTR-1A to reduce the output tax liability, provided you meet the conditions mentioned above. However, it's always best to consult a tax professional or expert to ensure you're meeting all the necessary requirements and following the correct procedures. Additionally, keep in mind that the recipient of the credit note will also need to accept and reconcile the credit note in their GSTR-2A, and you will need to ensure that the credit note is properly reflected in your GSTR-3B return.

MPR Sanjay Kumar

3145 Points Joined November 2020

@ ram chary honourable sir , as per current GST rules what is the last due date for to claim input tax credit to claim input tax credit give me a practical examples

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