GST DEBIT NOTE CREDIT NOTE

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STUDENT
92 Points Posted on 10 October 2020

Dear Sir,

Can Recipient of Goods/Service prepare Debit Note  & enter the details iN GSTR1

In case of Rate Difference i.e. Amt Paid is less than Bill Amt

Or Purchase Return of Goods of (Rejection of Goods  (Full Or Partial Rejection)

Thanks

 

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On 10 October 2020 at 12:15 Report
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Quick Summary
This discussion clarifies who can issue GST Debit Notes and Credit Notes under the CGST Act 2017. It explains that only the supplier can issue these notes for reasons specified in Section 34. Recipients cannot directly file these in GSTR-1, as it's for outward supplies. However, recipients can request suppliers to issue notes for adjustments affecting ITC, or if the supplier refuses, they can raise a debit note in their own books and adjust ITC in GSTR-3B.

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GST Practitioner & Accounts
15146 Points Posted on 10 October 2020

Please  refer  section 34 of the CGST act  2017  . Only supplier can issue Debit Note -Credit Note under GST act  for reason specified  in section 34  of the CGST act . How  recipient  will file GSTR 1 , Not  possible . GSTR 1 is for  Outward supply .      

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On 10 October 2020 at 15:02
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Accountant
281 Points Posted on 10 October 2020

If the adjust leads to increase in purchase and therefore increase in ITC, then you need to request the Supplier to issue you a Debit Note (credit note for you) so that ITC is captured in his R1 filing and thus in your 2A.

If the adjustment reduces your purchase value and therefore your ITC, you can still request supplier to issue a credit note to you. But if he is Not ready to issue the Credit Note and you are going to adjust the difference in your payment then, you can raise a Debit Note in your books and reduce your ITC in GSTR-3B to the extent of the difference. 

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On 10 October 2020 at 20:51

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