Menu
Credit notes
whether we have to reverse gst input tax credit on the credit notes without GST received by a dealer , credit notes are of rate difference, turnover discount, product discount ets ?
Replies (5)
Quick Summary
If your dealer had given credit note and if that is reflecting in GSTR 2a then you can reverse that input tax credit as you are not aviling that....
The reversal of output GST liability is not allowed in all cases of Credit note.....
In case of Rate Difference , yes the credit should be issued as per Section 34 of CGST , the GST less.
But in case of Turnover & product discount , the GST less CNT is to be issued only when if such credit note can be linked to relevant invoices.(Section 15 CGST Act)
So ask your supplier issue GST less Credit in case of Rate Difference.
But in case of Turnover & product discount , the GST less CNT is to be issued only when if such credit note can be linked to relevant invoices.(Section 15 CGST Act)
So ask your supplier issue GST less Credit in case of Rate Difference.
Credit notes are linked with relevant invoices, but are without GST.
then gst based credit note must be issue
Recent Topics :
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
Related Topics :
CAclubindia
