Gst query - sales made in june goods return in july

378 views 1 replies

Dear Member's/Expert

If someone has sold goods in june 2017 under VAT 5% and those goods were returned by the customer in July 2017 when GST rate for that article become 18%.

How we should account the same in the return form 3B. How much credit i should reverse in that case?

Regards

Replies (1)
suppose you sold goods worth 100000....than you must had charged 5000 as vat.....total payment 105000.....you had either taken the credit of 5000 or carried forward it to gst electronic credit ledger........

now when you will receive back these goods it will be considered your purchases and sale of the person who is returning the goods.

now that person will issue you a debit note of worth 118000 (not 105000)...now you have to pay to him 13000 rs extra from the earlier transaction amount.

he will deposit this 18000 as his gst liability to government.....
now you can take credit of this 18000 in gst....

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details