How to deposit tax on credit note issued by supplier

Hello everyone,

Our supplier issues us credit note (cash discount) on the invoice, and also puts 12% gst on it. This 12% GST claimed from him , is to be deposited by us.

Please advise which column is to be used for this purpose in GST3B. Currently we were using "ITC reversed" for this purpose. but we are informed, its not correct, as ITC REVERSED coloumn is for 180 payment delay .

 

any help will be appreciate in this regard,

 

thanks

Replies (2)

Dear Mayank ji,

what you are following procedure is correct. because CN means it is just discount, if earlier issued Invoice is more/incorrect, CN must be issued by Principle supplier to adjust tax/amount.

so this column of" ITC REVERSEd " can be used for this kind of entry as well 

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