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Time Limit to issue credit note.

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Shinoj Davis

112 Points Posted on 28 December 2022

Sir/ Madam,

Have any limit to issue credit note as per GST law or rule ?.

Thanks and Regards
Shinoj

Replies (3)

Quick Summary

Under GST law, there's no general time limit for issuing a credit note. However, Section 34(2) of the CGST Act specifies a deadline. You must issue a credit note by the earlier of either the end of the September following the financial year in which the supply was made, or the date of filing the relevant annual return.

Mitali

Finance Professional

45345 Points Posted on 28 December 2022

There is no specific limit prescribed under GST laws or rules for the issuance of credit notes.

prasad Nilugal

GST Practitioner & Accounts

8998 Points Posted on 28 December 2022

As per section 34(2) of the CGST Act, time limit to issue Credit Note is September month, following the end of Financial year in which such supply was made or date of the relevant Annual return whichever is earlier.

Raj Traveller

22 Points Posted on 12 June 2023

For Example, One Registered buyer who bought goods from One Registered Seller on FY 2020-21. Now due to some issues he is closing his business and returning all the stocks to Seller. In this case what to do if we found any Goods which were sold in FY 2020-21 and how to issue a Credit Note for those goods ?