i am regular dealer and bought goods in feb 18 and availed input , but returned goods in march 18 and showed purchase return in my books. party issued credit note in current month. now if i show credit note in current month gstr 3 b , will any penalty be charged ?
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Credit note late
Replies (7)
I think credit note will be allowed within 6 month not more than that so penalty may be charge.
as you have already shown it as purchase return n reversed the credit no need to disclose credit note in the return
@ Rocky...
Yes... You can reverse the Credit note Tax value in current GSTR 3B...
But,
What about in March-18 GSTR 3B return with Your debit note Tax value or not...?
Yes... You can reverse the Credit note Tax value in current GSTR 3B...
But,
What about in March-18 GSTR 3B return with Your debit note Tax value or not...?
raja sir, in march 18 we did not show debit note, because party has not issued credit note
| Originally posted by : rocky | ||
 |
raja sir, in march 18 we did not show debit note, because party has not issued credit note |  |
Well....
You can show the details in Your next GSTR-3B
but allowed only 6 month or not
| Originally posted by : prasad | ||
|
but allowed only 6 month or not | |
Section 34 : “Credit and Debit Notes” (CGST Act, 2017) :
(2) Any registered person who issues a credit note in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in such manner as may be prescribed:
Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person.
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