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debite/credit note ITC
can I issue debite and credit goods return more than six can I adjusted in 3-B or Gstr1/2 in gst regime. bcz in old vat regime tax can not be setoff more than six month pls Help mI..
Replies (2)
There is no six months concept under GST. Debit or credit note for the financial year can be issued till filing of annual return for that financial year or filing of monthly return for September of the next financial year which ever is earlier
Time Limit of issuing Debit/Credit Note
Supplier who is issuing credit note/Debit Note will declare the details of credit note/Debit Note issued under GSTR-1 of that month or later but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.
But if credit note/debit note is issued after September or filings of annual return then it will be invalid.
Supplier who is issuing credit note/Debit Note will declare the details of credit note/Debit Note issued under GSTR-1 of that month or later but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.
But if credit note/debit note is issued after September or filings of annual return then it will be invalid.
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