Finicial credit note

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accountant
213 Points Posted on 05 March 2020
Sir,
can I issue finicial credit note without gst
if yes then what is the right treatment of buyer
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On 05 March 2020 at 20:32 Report
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Quick Summary
This discussion clarifies the issuance and treatment of financial credit notes, particularly concerning GST. It explains that financial credit notes can be issued under specific conditions related to discounts, as per Section 15 of CGST and Circular 92/11/2018 GST. The advice also covers how these notes should be reported, or not reported, in GST returns like 3B and GSTR 1.

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"Do the Right Thing...!!!"
128162 Points Posted on 05 March 2020
Can You give details of the financial CN
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On 05 March 2020 at 22:14
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accountant
213 Points Posted on 05 March 2020
2018 19 c n issue to customer
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On 05 March 2020 at 22:29
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"Do the Right Thing...!!!"
128162 Points Posted on 05 March 2020
Hello...

I'm asking what is financial CN and exact details...

and

You can't give/take Credit note / debit note for FY 18-19 in now...
1 Reply
On 05 March 2020 at 22:32
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GST Practitioner
55067 Points Posted on 05 March 2020
Yes Financial Credit can be issued only if :
In term of Section 15 of CGST : Where there is no Agreement before supply for such discount & cannot be linked to relevant invoice.
So if above conditions fulfills a financial credit can be issued.
(For more details kindly refer Circular 92/11/2018 GST)
2 Reply
On 05 March 2020 at 22:59
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176 Points Posted on 14 June 2020
Where to sbow this cedit note in 3b and gstr 1
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On 14 June 2020 at 16:07
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GST Practitioner
55067 Points Posted on 21 June 2020

IF ISSUED FINANCIAL CREDIT NOTE THEN NOT REQUIRED TO REPORT ANYWHERE IN GST RETURN

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On 21 June 2020 at 01:16

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