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ITC on credit note

chauhan kinjal (60 Points)

20 August 2022

I have issued credit note under igst

this month I have not any payout under igst

how to claim igst against issued credit note

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22 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

You may enter the credit note details in GSTR-1 and claim ITC .

3 Like

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

Claim it in next month as most probably from next month or month thereafter availablility of negative values allowed in GSTR-3B.

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

You may amend the invoice to the extent of credit note if permitted

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

How he can

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Can adjust in the invoice amount..GST will be added in the ledger to that extent

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

If there is no sales in IGST , how the same is adjusted.

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Do you know previous months invoices can be a ended in the current month?

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

Yes but if there are no invoices in IGST and credit note belongs to IGST then you can't show it in GSTR-3B

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Invoice amendment has to be done through GSTR-1

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

But why to ammend invoice , also if you ammend invoice then liability in IGST reduced, so how you show it in GSTR-3B

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Amendment invoice once and check practically.You will come to know

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

I do it regularly and thereafter replying. Just understand the query

2 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Read the query again

CA Rashmi Gandhi (Chartered Accountant) (86225 Points)
Replied 20 August 2022

Here querist clearly said that there is no payout in IGST but there is credit note. It means there is negative value in IGST liability

2 Like

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