Non registered Consumer taken goods on credit on 01-Nov-2018 and returned goods on 31-May-2019, how to show it in accounts
Can we reclaim GST paid as it is more than 6 months if not, do we need it to show anywhere in GSTR1
Thanks in advance
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Goods Returned by Consumer After 7 Months
Replies (9)
issue credit note and adjust the amount in your returns accordingly.
Issue Credit Note against original invoice (Nov'2018) and add CDNR table in GSTR 1 for the month of May,2019
Assume item price including GST was 10000 in which 1800 gst was included item price 8200.00 GST 1800 in credit note can we reverse GST paid also or it has to go to p&l account my concern is goods are returned after 7 months, i am assuming that goods should be returned within 6 months in GST to claim the GST paid(GST REVERSAL)
You can't claim for refund. The amount of credit note will be adjust with outward supply automatically (for GSTR 1) and for GSTR 3B you should less the credit note amount from current months outward supply.
There is no criteria for less than or more than six months for goods return. The only limitation is the time period of issuing credit note which for you is still time. Issue credit note and adjust the liabilities in your next return
what' is the time limit for credit note issu
Six months from the end of financial year
issue credit note for accounting purposes.... as the consumer is uregistered adjust the amount of note from b2c supplies of current month..... also adjust the outward supplies and tax payable in current month 3b.....
@ Anshuman
The time limit is prescribe only for those Credit Note, bills, Debit Note etc which we have missed to book in said FY .
The time limit is prescribe only for those Credit Note, bills, Debit Note etc which we have missed to book in said FY .
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