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Credit Note under GST

Amish Maknojia (Student) (507 Points)

28 August 2020

Hi
Goods sold in July 2019 and bill was issued and also return has been filed, now can we give credit note against that bill in Aug 2020 as there is some discrepancy with the buyer.
Please help

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5 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 August 2020

Yes, you can give credit note...up to September, 2020

1 Like

Amish Maknojia (Student) (507 Points)
Replied 28 August 2020

What's the time limit for issue of Credit note?

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 August 2020

Credit Note should be issued by earlier of the following dates:

1. Date of filling of Annual return in which the Original Tax Invoice was issued; OR

2. 30th September of the FY immediately succeeding the FY in which the original Tax Invoice was issued.

So, Generally, it's 30th September of next year.