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Debit note

Venkatesh K N (student) (178 Points)

20 September 2018

I received Debit Note (Discount /Incentive) from company...
How should i show in GST returns 3B

If i receive 10000 (including GST)
Should i liable to pay Output GST on Debit note of discount received?

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7 Replies

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 20 September 2018

You are required to reverse the ITC if conditions under section 15(3)(b) are satisfied.

Venkatesh K N (student) (178 Points)
Replied 20 September 2018

How should i show this 3B

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 20 September 2018

TABLE 4(B)(2) i.e. ITC reversed-Others.

Venkatesh K N (student) (178 Points)
Replied 20 September 2018

https://www.caclubindia.com/articles/actions-to-be-taken-before-30-sept-2018-34551.asp

Whats this link tells

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 20 September 2018

Originally posted by : Venkatesh K N
	I received Debit Note (Discount /Incentive) from company...How should i show in GST returns 3BIf i receive 10000 (including GST)Should i liable to pay Output GST on Debit note of discount received?

Are You received Debit Note or Credit Note....?

Is the Document have GST or Flat discount....?

1 Like

Venkatesh K N (student) (178 Points)
Replied 21 September 2018

The company gave Credit note (for me its Dr note)
In company didn't gave documentation but showed in annual statement..
So my query is, I have to reverse the ITC?

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 21 September 2018

Yes if in that credit note tax component is there, then you will have to reverse the ITC. ITC reversal amount is equivalent to tax amount mentioned in the credit note.