An assessee raised invoices in F.Y. 2009-10 & 2010-11. Now in 2011-12, he has issued credit note in respect of the invoices raised in 2009-10 & 2010-11.
Can he issue credit note in above case?
What is the time limit for issue credit note?
What are other servcie tax implications he has to keep in mind?
There is nothing irregular in issuing credit note. If credit note is issued for the amount of service also , credit can be taken by the service receiver as per rule6(3) of Service TaxRules.
S.B.G. & CO. CHARTERED ACCOUNTANTS
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