banner_ad

GST on credit notes post sale

ITC / Input 329 views 7 replies
User Avatar

D.P.BARBHAYA & ASSOCIATES
150 Points Posted on 14 August 2019
Receiver got credit note for post sales discount . Suppier has not charge GST on such credit note. Will receiver has to reverse or pay gst on such credit note ??
2 Reply Share Follow
On 14 August 2019 at 17:08 Report
Replies (7)
User Avatar

GST Practitioner
55067 Points Posted on 14 August 2019
No...........
301 Reply
On 14 August 2019 at 17:26
User Avatar

ca
251 Points Posted on 14 August 2019
yes they have to reverse ITC for credit notes, it's common practice in automobiles sector
Reply
On 14 August 2019 at 18:17
User Avatar

D.P.BARBHAYA & ASSOCIATES
150 Points Posted on 14 August 2019
but they have issued credit notes without charging GST. so what receiver have to do??
2 Reply
On 14 August 2019 at 20:03
User Avatar

accountant
519 Points Posted on 14 August 2019
if supplier gibe financial credit note then no need toreverae the credit but if they give cn with gst then u have to reverse that
2 Reply
On 14 August 2019 at 21:15
User Avatar

GST Practitioner
55067 Points Posted on 14 August 2019
Kindly refer circular 92/11/2019 GST .
If supplier has issued Financial Credit , Recepient will not Reduce his ITC , book as income
301 Reply
On 14 August 2019 at 23:13
User Avatar

GST Faculty @ Ministry of MSME Govt of I
2813 Points Posted on 15 August 2019

As per Swastika Educonsult View - 

No Requirement to reverse the ITC. It is a financial credit note and not to be disclosed in GST Return at all. Reversal of ITC will come only when the  Credit Note is issued with GST.  

14 Reply
On 15 August 2019 at 01:04
User Avatar

ca
251 Points Posted on 15 August 2019
if gst is not charged then ITC will not be reversed.
Reply
On 15 August 2019 at 01:18


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details