How to reverse GST paid without invoice

Return 202 views 3 replies

Vimal Saran

Manager

25 Points Joined August 2020

Sir / Madam,

In my April month's GSTR3B I have paid GST for turnover of Rs 1,55,000/- in anticipation that I will receive rent. However my tenant has vacated the space hence the invoice has been returned. Now I have no idea how to adjust the tax paid for which I have no valid invoice in my hand.

Can I issue a credit note based on the cancelled invoice and reduce the GSTR3B tax output for May month and pay tax accordingly?

In that case what if my tenant cancels my credit note shown in GSTR1 of may month?

Please help.

Replies (3)

CA Sunil Kumar

Chartered Accountant

4524 Points Joined July 2014

Yes, you should issue a credit note .

CA Sachin M Jain

CA | GST | Refunds | Advisory | Litigati

1463 Points Joined March 2018

You will have to issue Credit note with GST and report in GST returns to reduce your output liability.

For further clarification contact CA SACHIN M JAIN
Mobile : 8097515447
WhatsApp : tinyurl.com/wCASMJ
Email : casachinmjain @ gmail.com
LinkedIn : tinyurl.com/LCASMJ
YouTube : tinyurl.com/YCASMJ
Twitter : tinyurl.com/TCASMJ

Vimal Saran

Manager

25 Points Joined August 2020

Sir,

Thanks for the reply. But to issue a credit note I need a valid invoice however in my case I don't have any invoice to show it as a sales returns.

I have paid in the anticipation that I may receive the rental income however my client vacated earlier hence I couldn't raise any invoice. In this case what is the best option ?