I raised an invoice dated 30/3/23 for 20 lakhs including 18% GST. 31/3/23 was the last day of company operations. I have paid and filed GSTR1 and 3B by 20th april. Now customer is willing to pay only 5 lakhs and asking for 15 lakhs credit note. What will happen to GST I paid? As I will closing LLP, its like I can show loss in FY23-24 which is of no use and also paid GST. What are the options?
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GST refund after huge credit note
Replies (1)
As per Section 34 of CGST Act the credit note can be issue only when goods supplied being return or Goods found to be Deficient or Excess rate being charged for the goods supplied.
So you cannot issue credit note for reason that buyer is not giving you the payment for goods supplied.
So you cannot issue credit note for reason that buyer is not giving you the payment for goods supplied.
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