I received a debit note from party for FY 23-24 Jan month, in May 2024. Which month should I pass credit note in our book, in 23-24 or 24-25,
Please guide as per accounting and gst point of view
From GST point of view, you need to avail the credit in May 2024 provided all conditions are satisfied.
From accounting perspective, if its pertaining to period 2023-24, then it needs to be provided for in 2023-24.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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