Regarding Debit note Liability

hello pankaj sir

i had an query regarding issuance of DEBIT NOTE

i have read at so many places that  u have to issue a debit note when their is differnce in RATE

in cases where the original incoive was issued at a value lower than the acutal value of goods. or post supply price negotiations.


Now in my case i have received some defective goods from my supplier so i have issued a DEBIT NOTE against it..

is that valid as it not a rate differnce case and just  a PURCHASE RETURN

and if the issuance of debit note is correct then i have to show it in GSTR1 as well or not ??
as my GST CONSULTANT keeps on saying that only sales related things have to be mentioned in GSTR1 and in this case it is a PURCHASE RETURN so u dont have to show it in GSTR1 

so please clear it sir

yes you have to issue debit note for purchase return .

YOUR CONSULTANT IS CORRECT , GSTR1 IS ONLY FOR SALE RELATED, SO NO NEED TO SHOW YOUR PURCHASE RETURN DEBIT IN GSTR1

no sir i dont think thats a valid thing it is as good as claiming refund which isnt allowed on monthly basis.

only option you have is if your ITC IS 50 and tax liability is 20 then while filing gstr3b your 20liability will get adjusted and rest 30 will be carried forward for next month.

 

Sir

Debit / Credit Note can be issued only by the supplier . ( Section 34 of GST Act )

Supplier will show this credit Note in his GSTR 1 .

You just need to adjust / Reverse GST claimed on Goods returnd