LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Debit notes in GSTR1

23 March 2019

GSTR1 in Portal gives the option of debit or credit notes . Why should we give debit note details while GSTR-1 is all about turnover details .

Reply
Follow
Share

1 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 23 March 2019

In Form GSTR-3B, value of taxable supplies = value of invoices + value of debit notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices.

So, output tax will be after reduction of credit note issued by the supplier.

In GSTR-1, if you don’t fill the credit/debit note details issued by you, then the output tax liability will be shown as inflated and won’t match with the liability declared in GSTR-3B.