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Purchase return in gst

anonymous (student) (750 Points)

06 December 2018  

DEAR ALL

IF I AM RETURNING GOODS TO MY SUPPLIER AND RECEIVED CREDIT NOTE FOR THE SAME, WHAT IMPACT IT WILL HAVE ON MY GST LIABILITIES?


 2 Replies

pritesh (CA Final student) (7071 Points)
Replied 06 December 2018

You have to reduce your EligibleITC to the extent of Credit note tax amount.

Pankaj Rawat (GST Practitioner) (51638 Points)
Replied 06 December 2018

Your Inout tax will be reduce by the value of GST in Credit Note.

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