Menu
Output Gst reversal
The assessee has taken back the material sold to a party due to non payment of dues, so how do I reverse the gst already paid on such bill? Shall I cancel the bill or issue credit note?
Replies (3)
Issue a credit note against that invoice .
If u have already paid tax on that liability in such a case decrease that amount from ur taxable value in ur subsequent gstr 3b . this will reduce ur tax liability .
If u have already paid tax on that liability in such a case decrease that amount from ur taxable value in ur subsequent gstr 3b . this will reduce ur tax liability .
Thank You Sir 👍
You may issue Credit note for such sales return.
Reduce the outward Supplies in GSTR 3B.
Report credit note in GSTR 1.
For further clarification contact -
CA Sachin M Jain
#Stayconnected #stayupdated
Mobile : 8097515447
WhatsApp : tinyurl.com/wCASMJ
Email : casachinmjain @ gmail.com
LinkedIn : tinyurl.com/LCASMJ
YouTube : tinyurl.com/YCASMJ
Twitter : tinyurl.com/TCASMJ
Reduce the outward Supplies in GSTR 3B.
Report credit note in GSTR 1.
For further clarification contact -
CA Sachin M Jain
#Stayconnected #stayupdated
Mobile : 8097515447
WhatsApp : tinyurl.com/wCASMJ
Email : casachinmjain @ gmail.com
LinkedIn : tinyurl.com/LCASMJ
YouTube : tinyurl.com/YCASMJ
Twitter : tinyurl.com/TCASMJ
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
