Gst return

In July, a party has sold a taxable of ₹ 50000 and has issued a credit note of ₹ 70000 for the previous month. In such a situation what will be the figure of the sale in GSTR 3
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Quick Summary
This discussion addresses how to correctly report sales and credit notes on your GST return (GSTR 3B). If you issue a credit note larger than the current month's sales, the excess amount should be adjusted in subsequent months. The advice suggests showing nil taxable value and zero tax liability for the current month if the credit note exceeds sales, and carrying forward the remaining credit for future adjustments.

Show Nil taxable value/outward supply and Zero tax liability in the July month GSTR 3B and Adjust the balance amount of sales return (i.e 70,000-50,0000=20,000) in the subsequent month GSTR 3B.
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