hi, the party issued a debit note in the previous FY 2020-2021, and send a debit note now, can be issued a credit note in this FY or what is the right way to do it.
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Quick Summary
This discussion clarifies how to handle a debit note issued in a previous financial year (2020-2021) when the credit note is being issued in the current financial year. Participants confirm that a credit note can indeed be issued in the current FY. Guidance is provided on whether to record it in the previous FY (with specific date cut-offs) or the current FY (up to the return filing due date), noting potential changes to the credit note's serial number if applied to the prior year.
Yes u can be issued credit note in this FY. U will show it fy 20-21, before 20/10/21 or 31/12/21, whichever is earlier. Or u can show it fy 21-22, till return filing due date i.e before 20/10/22 or 31/12/22, whichever is earlier.