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HSN Summary- Credit notes

1042 views 2 replies

Kishore Nuthalapati

Accountant for multiple small entities

171 Points Joined September 2022

Hi Sir/Madam

Good morning

Every month I am showing Outward sales HSN Summary which ties with Sales Summary in books

However in October month there are Credit notes

Do I need to adjust Credit note value in HSN Summary value

For instance
Sales total value is 1,00,000
Credit note total value is 10,000

in HSN Summary do I need to show HSN Summary as 90,000

Please advise
Thanks in advance

Replies (2)

kl Bhavana

Student CA Final

417 Points Joined July 2013

Hi Kishore,

All the outward supplies and credit notes are required to be reported under HSN Summary table of GSTR 1.
Trust this clarifies, if any more clarifications required you can write mail to Bhavana @ lbkca.in.

Thanks,
Bhavana K L
Chartered Accountant