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purchase return
what is the time limit of goods return from a composition dealer to a registered n dealer and will there will be any tax detected or he will get full amount he has paid on purchase.pl make it clear
Replies (2)
Time Limit of issuing Debit/Credit Note
Supplier who is issuing credit note/Debit Note will declare the details of credit note/Debit Note issued under GSTR-1 of that month or later but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.
But if credit note/debit note is issued after September or filings of annual return then it will be invalid.
An Composition Dealer :
They will make the Debit note as per his Bill of Supply with full Purchase Bill value or Part of goods values. The Supplier can split the values (Ass. Values + GST) In his books of accounts...
Supplier who is issuing credit note/Debit Note will declare the details of credit note/Debit Note issued under GSTR-1 of that month or later but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.
But if credit note/debit note is issued after September or filings of annual return then it will be invalid.
An Composition Dealer :
They will make the Debit note as per his Bill of Supply with full Purchase Bill value or Part of goods values. The Supplier can split the values (Ass. Values + GST) In his books of accounts...
Thnx Sir,
Will be any tax deduction ...?
I am a pharmacist under composition scheme and have returned goods( fresh & expiry ) to a registered dealer.
They are deducting taxes at the current rate and issuing the cr note .
Should I get full amount or tax deduction is ok.
pl advice.
Thanks
Will be any tax deduction ...?
I am a pharmacist under composition scheme and have returned goods( fresh & expiry ) to a registered dealer.
They are deducting taxes at the current rate and issuing the cr note .
Should I get full amount or tax deduction is ok.
pl advice.
Thanks
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