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Debit note /credit note

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Allauddin patel

Accountant

86 Points Posted on 22 June 2020

dear sir...
I had sold good to one of my party in the month of April 2020 and when party received goods he found some damage goods in that and he (recipient) issued debit note to us by reducing the invoice value in same month April. and he sent that debit note to us by mail on 20 June.....
so pls tell me what should we do now.... ???

I have filled GSTR 1 and GSTR 3b of April month according to my original invoice....

please solve this my problem

Replies (2)

Quick Summary

This discussion addresses a situation where a customer issued a debit note for damaged goods after the original invoice month. The advice given is to issue a corresponding credit note to adjust the sales value and tax liability. This credit note should be reported in GSTR 1 under Table 9B and reflected in GSTR 3B to reduce the tax payable. The user also clarifies that input tax credit is not applicable to credit notes issued by the seller.

Sakthivel K

GST / Accountant

111 Points Posted on 22 June 2020

You have to raise the Credit Note and file with GSTR 1 under Table 9B. Like Sales invoice U hve to maintain continuous serial no. for credit note. Also reduce the T.O. & Tax liability in GSTR 3B. Credit note date can be earlier or current month as per your record.