If payment made to supplier is less than value of invoice issued am i required to reverse proportionate gst means gst input available on invoice value minus gst on actual payment made
If yes where to reverse in gstr 3B
naresh (accountancy) (47 Points)
19 May 2024If payment made to supplier is less than value of invoice issued am i required to reverse proportionate gst means gst input available on invoice value minus gst on actual payment made
If yes where to reverse in gstr 3B
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 20 May 2024
I think, best approach in your situation is to request that the party issue a debit note. It will automatically adjust your input tax credit proportionately.
Manish
(CA)
(1172 Points)
Replied 20 May 2024
If it's against full settlement, then treat it as cash discount and do not amend GST amounts.
sabyasachi mukherjee
(27537 Points)
Replied 21 May 2024
naresh
(accountancy)
(47 Points)
Replied 22 May 2024
Sir
Party is not issuing debit note
Can i reverse excess amount of gst in gstr 3b under reversal of gst under others option
naresh
(accountancy)
(47 Points)
Replied 22 May 2024
Can i avail gst input on amount in excess of actual payment made for goods
Manish
(CA)
(1172 Points)
Replied 22 May 2024
Do not amend GST amount on your own.
And yes, you can claim the GST as per the invoice if the vendor is not providing a credit note.
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 22 May 2024
Originally posted by : naresh | ||
Sir Party is not issuing debit note Can i reverse excess amount of gst in gstr 3b under reversal of gst under others option |
if party not give proper response regarding debit/credit note than you will be reversed through GSTR-3B.
Excel Mastery Program