Goods Return of FY 24-25

852 views 3 replies

We had sold goods to our customer in FY 24-25 of Rs.583000.

Due to some quality issue at customer end goods will be returning to us in Dec 25.

In this case we loss GST amount.

Which documents will be prepared by both parties for these transactions.

 

Replies (3)
Quick Summary
This discussion addresses the process for goods returns in FY 24-25 where a customer is returning items due to quality issues in December 2025. It outlines the necessary documents, including the original invoice, credit note, debit note, and return note. The primary concern is the loss of GST amount and how to adjust it through revised GST returns. The conversation also touches upon the challenge of issuing a credit note after the November 30th deadline for FY 24-25, with a suggestion to obtain a Tax Invoice from the customer as an alternative.

The documents prepared by both parties are: 

Original invoice - issued at the time of sale (FY 24-25).

2. Credit note - issued by the seller to the buyer for the return of goods, adjusting the sale value and GST.

3. Debit note - issued by the buyer to the seller acknowledging the return and GST adjustment.

4. Return (goods) note - prepared by the buyer to record the physical return of goods. 

5. Revised GST return - both parties adjust their GST filings (GSTR-1 & gstr-3B) to reflect the credit note and tax reversal. 

The seller loses the GST amount initially paid on the sale, which is reversed via the credit note and reflected in the GST returns. 

Credit note issue due date for 24-25 30th Nov 25.

How can we raised CN in Dec 25 Month.

Dear Mr. Nitin.,

 

As per Your query no more possibilities for preparing DN/CN.

Better to get it through Tax Invoice from Customer.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details