Please help me ,
how to show gst on credit notes ?
is it deducted from output gst liability or shown as input ?
DURGA PRASAD (Asst Accounts Manager) (52 Points)
18 June 2019Please help me ,
how to show gst on credit notes ?
is it deducted from output gst liability or shown as input ?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 18 June 2019
Deduct credit note taxable value and tax amount in GSTR-3B column 3.1(a), i.e. from outward taxable supplies.
Value of Taxable Supplies = Value of invoices + value of debit notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 18 June 2019
@ Durga Prasad : You should deduct it from Output GST Liability.
CAclubindia
