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Debit note (purchase return)

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NAVEEN

Sr.ACCOUNTANT

261 Points Posted on 28 February 2020

I have made a purchase on 12/09/2018 FY 18-19

I found the material is defective can I return the material now with Debit note?

Can the supplier revise his output tax with my debit note?

Is any specific time limit for purchase return In Gst like Vat?

Replies (5)

Quick Summary

This discussion clarifies the rules around purchase returns and debit notes under GST. You generally cannot issue a debit note for a purchase made in a previous financial year (like FY 18-19) if the deadline for adjustments has passed. The supplier also doesn't revise their output tax liability based on your debit note for past periods. While there are time limits for purchase returns, these are typically linked to the filing of the next financial year's GST returns or the annual return, whichever is earlier, rather than a strict six-month rule.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 28 February 2020

No.You can't raise debit note.

No.Supplier need not revise output liability for earlier period for the debit note since he pays GST on such debit note

Yes.There is time limit.6 months from end of FY or deadline for annual return whichever is earlier

Section 34(2) of the CGST act says that any registered dealer can issue a credit note in relation to supply of goods or services up to a period of six months from the end of the financial year or the date of filing the annual return, whichever is earlier

RAJA P M

"Do the Right Thing...!!!"

128157 Points Posted on 28 February 2020

Can I return the material now with Debit note?

- No... You can't raise debit note for the transaction in FY 18-19.

Can the supplier revise his output tax with my debit note?

- No...

Is any specific time limit for purchase return In Gst like Vat?

- Yes... we have time limit/period for the transaction related activities as purchase/sales return...
As the time limit of previous year's transactions can adjust or rectifying on of before filing of next FY September GST returns or Annual return (previous year) which is earlier.
As per Your query You can made any adjustments or rectification for the FY 18-19 time limit is September-2019 GST returns or Annual Return Of FY 18-19 whichever is easier...

Note : Under GST the 6 months concept not applicable or no more...