if made any purchase/sales return in a month, where it affect in gstr 3B. or remain null affect in 3B and only deduct/ add at the time of gstr9 returns?
in my case made some purchase returns in some months. i usually doing next months, credited tax of these return goods(credited when purchased previous month) deduct from the next month tax credit ( tax credit reverse) , is it correct method? if not how to rectify my mistakes? confusion arises over the table 4I & 4J in gstr9..
plz reply correct procedure to follow in Gst returns for debit/credit note issues..
thanks in adv.
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debit/credit note issue.
Replies (5)
we are issuing debit note to vendor for purchase return and same amount we reverse in our ITC Register.
but same should be reconciled with vendor ledger on periodic basis , so avoid GSTR2A reconciliation issue.
OK. but my qn.is if we issue a debit note, then should reverse the tax in table 4 of gstr3B?
yes that need to shown in table 4 as ITC Reversed, however this is the presentation of the fact.
OK. reverse (4B 1 or 4B 2 ? ) in next month OR deduct the credited tax from next month ITC ??
show i under reversal......
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