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Credit note issuance
what is the time limit for issuing credit note
Replies (7)
Quick Summary
For F.Y 21-22 , It's September 22.
There is no time limit for debit or credit note under GST.
There is time limit for claiming ITC .
There is time limit for claiming ITC .
Refer section 34 of the CGST act 2017.
Credit note issuance must be within the same financial year. After finalization of accounts and balance sheet adapted by the company there cannot be any issuance of credit note of last year.
You can also check rules for amending invoices
It is clearly mentioned in section 34 of the CGST 2017, last month to issue Credit Note is September . please refer.
GST Credit Notes against the supply of goods or services can be issued not later than September following the end of the financial year in which such collection was made, or the date of furnishing of the relevant annual return, whichever is earlier
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