debit/credit note issue.


Vinhod Vinhod   20 June 2019

Vinhod Vinhod

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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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prachee (Indirect Tax)     20 June 2019

prachee
Indirect Tax 
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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.

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Vinhod Vinhod   20 June 2019

Vinhod Vinhod

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OK. but my qn.is if we issue a debit note, then should reverse the tax in table 4 of gstr3B?

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prachee (Indirect Tax)     20 June 2019

prachee
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yes that need to shown in table 4  as ITC Reversed, however this is the presentation of the fact.

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Vinhod Vinhod   20 June 2019

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OK. reverse (4B 1 or 4B 2 ? ) in next month OR deduct the credited tax from next month ITC ??

shailendra shukla (Bhopal)     20 June 2019

shailendra shukla
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show i under reversal......

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