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Sales return in GST
i had made a sale to Mr. B of Rs. 5 lac in june and paid vat of rs 60k on that. Now mr B returned goods to me. i had returned him 5.6 lacs. now my question is how could i get the credit of this vat of 60k which i jad paid to govt.
Replies (3)
I think now the situation (GST regime) it's not good.
So,
You ll consider your customer and then receive it as GST purchase...
So,
You ll consider your customer and then receive it as GST purchase...
Now u are taking itc of gst on credit note... Then what is need to take itc of vat?? Now u r receiving credit note... On which gst has been charged... Itr ur itc now
This situation is covered by section 142(1) of the transitional provisions. For your customer, its a deemed supply and he need to remove the goods charging GST by raising a tax invoice. You can take the credit on such bill. Alternatively, many are also following the credit note route in this case but that is legally not correct.
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