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Credit note

21 December 2017

I have sold goods for Rs.100000 and charged @ 5% GST Rs.5000 gross amount is Rs. 105000 but buyer make payment of Rs.80000 after deduction of quality cut, so how are I issue a credit note of Rs.25000 and how can I get remain GST.

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3 Replies

amar delo (article assistant) (115 Points)
Replied 21 December 2017

Since he gave only Rs. 80000/- treat it as value inclusive of gst and gst payable is 3809/- now issue credit note for 25000/-(price excluding gst-23809.52/-,gst-1190.48/-)

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sudip sharma (article) (734 Points)
Replied 21 December 2017

first see there any system to change the original invoice if it is possible then do it. if not, issue of invoice amounting to rs 23809 and charge GST 1191 and this will be accepted if your supplier reverse the original excess credit available .

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 21 December 2017

Create Credit Note as per the balance value with GST. And Less the Credit note value in your Sales value at GSTR 3B return...
Also show the Credit Note details in GSTR 1...

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