Raising Credit Note

Dear Friends,

We have raised an invoice on 10.10.2023
now we want to raise a credit against this invoice on 22.04.2024

Pls clarify, we can raise a credit note on 22.04.2024
Replies (6)
Quick Summary
This discussion clarifies whether a credit note can be raised for an invoice issued in a previous financial year. The consensus is that it is permissible to issue a credit note on a later date, even if it falls into a new financial year. However, participants raise important considerations regarding GST implications and the potential impact on the profit and loss accounts of both the current and previous financial years.

yes. you can raise the credit not on 22 April 2024.

For reducing any kind of tax purpose or values??
The client needs in current date

Yes, you can raise credit note now 

Yes, I agreed to Mr CA Anoop Kumar Sharma and Mr Nikhil Kaushik...

@ Mr Senthil,

You raise CREDIT NOTE in 22.04.24 against the sale invoice made on 10.10.23 . No issues.

 should it raised with gst or without gst? Doesn't it affect the profit and loss account of two financial years? is that okay?

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