If in a month, Sale is of SGST & CGST and there is Credit note of IGST.
How to report this in GSTR3B?
Can we set off CGST & SGST against that credit note, and put the net figure in GSTR 3B?
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IGST of CN can adjusted against CGST and SGST
Replies (3)
You have to wait for Out ward IGST supply , in the next month , same credit note mentioned in query will be reduce in GSTR 3B from IGST outward supply .you can not reduce from CGST and SGST outward supply ,this is my opinion you may confirm from other also.
Such credit note will be shown in following month where igst output liability is sufficient to set up against it but not later than 30th sep of next financial year
As per S.no.3 of Circular 137/07/2020 GST ,
If there is no output liability against credit not to be adjusted , registered person can claim refund for the same under "Excess payment of tax, if any" through form GST RFD-01.
Hence you can claim refund for the same.
If there is no output liability against credit not to be adjusted , registered person can claim refund for the same under "Excess payment of tax, if any" through form GST RFD-01.
Hence you can claim refund for the same.
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