bill issued to the party for services and entered in gstr1 of April but the deal got cancelled.how to change that bill in next return or issue credit note. plz reply fast.
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Quick Summary
This discussion addresses how to amend a GSTR1 bill for services that were initially filed in April but later cancelled. The user is seeking guidance on whether to issue a credit note or adjust the bill in the next period's return. Expert advice clarifies that a credit note is used to reduce or cancel a bill, while a debit note increases its value. The specific case of issuing a credit note for services, where no physical transfer occurs, is also discussed, along with the possibility of zeroing out the amount in the subsequent GSTR1 filing.
🌟 My honourable CA Rashmi Gandhi mam , typically in GST debit note and credit note usage what when I should have to use debit note and when I have should issue credit note please explain me?
And in case of service how can a person issue credit note bcz no transfer takes place in services like goods. can we cancel the bill by changing the amount to 0 in gstr1 of nex period.
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