I purchased a taxable product on 05/08/2021 and take input in gst. Now I have returned some of this product due to expiry of product and some for damage on 26/03/2022. Seller issue me credit note without mentioning gst amount. They are explaining that after 6 months output tax can not be reversed. without their taxable credit note I can not reverse my input gst.
Is it right procedures?
Can anyone guide me...?
Menu
GST IN CREDIT NOTE
Replies (3)
As per the provision of section 34(2) of CGST Act,2017 time limit to issue Credit note is as under: “A supplier can issue a credit note against a Tax Invoice on or before 30th September of the next financial year or the date of filing of annual return pertaining to the Tax Invoice, whichever is earlier.”
so in this case he can issue credit note till 30th sept 2022, and you also have to reverse the input.
Thank you Sir, I also knew that there is no provision of 6 months for credit not, but I have been confused by their accounts team.
Invoice provision will not affect the issue of credit note . all credit not b adjusted before filing of sept 2022 or filing of annual return of a tax payer in year.
Recent Threads
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
- Purchase and sales of Shares entry in Tally
- Where to know latest GST HSN Codes and their Rates
- Hsn code and rate cnsl crude oil
- Clarification required on taxation of income from
- Pension Income up to Rs.1,66,250 per month equal t
- Reappointment of Managing Director in a private li
Related Threads
CAclubindia
