srividya (asst mgr fin & a/cs) (114 Points)
06 August 2019We had raised an invoice for a service in 2018-19. But we had to cancel the invoice in June 2019 and raise a credit note to the party. But, we had already remitted the GST on the original invoice. Can we take credit of the GST paid in our July returns by adjusting the amount with the GST payable for July 2019.
srividya
(asst mgr fin & a/cs)
(114 Points)
Replied 06 August 2019
Thankyou. Is it to be done like taking ITC?
srividya
(asst mgr fin & a/cs)
(114 Points)
Replied 06 August 2019
then how is it to be shown in the return
Manoj Punjabi
(Accountant)
(219 Points)
Replied 06 August 2019
You can show this by issuing Credit note to party in July - by showing it as sales returns. Deduct this sales returns from sales of July.
1. If B to B - In returns GSTR 3B show this as Sales Returns, also show sales Returns in GSTR1, You have to give details of original sales bill in GSTR1, (entry will not be accepted without proper details of bill which were given in GSTR1, it will show error if same details of bill not given, so give correct and same details of bill as given in returns when this original bill was shown)
2. If B to C - Deduct directly from total Sales.
srividya
(asst mgr fin & a/cs)
(114 Points)
Replied 06 August 2019
this i have already done in june 2019. My doubt is how to adjust the GST in july 2019 payment
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