X got credit notes of RS. 12,50,000/ from my supplier
how to solve it
a) should I reverse the credit notes in 3B (others)
or how to treat please advise me.
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 06 September 2019
Query is not cleared...
sujith kumar dasa
(banglore)
(1496 Points)
Replied 06 September 2019
If your question is X received credit notes from his supplier, ghen how to reverse credit in GSTR-3B
then you can reverse same in 3B by reducing input credit from current month input credit in other input tax credit in Table 4
then you can reverse same in 3B by reducing input credit from current month input credit in other input tax credit in Table 4
Akshay Jain
(Tax Consultant)
(1024 Points)
Replied 06 September 2019
yes you have to reduce this figures in table 4A because their is reduction in your ITC it cannot be said reversal of ITC
Uttam
(employee)
(814 Points)
Replied 07 September 2019
X would have received purchase invoices and now he has received credit notes.
The effect of reduction should be given in 'All Other ITC' row of Gstr3B. (Table 4).
It is not reversal of ITC.
The effect of reduction should be given in 'All Other ITC' row of Gstr3B. (Table 4).
It is not reversal of ITC.
Recent Topics
- Validity of Supplementary Reports and Scrutinizer'
- 80 D Health insurance deduction
- Demand raised for interest on short payment of tax
- Any improvement in ITR processing time now?
- Itr 4 is balance sheet compulsory
- Interest from SCSS in post office
- TDS Not claimed for FY 2023-2024
- GST 2 Unit
- GST on sale of Old Vehicle commercial
- CoA for LTCG when acquisition payments were stagge
Related Threads
Trending Online Classes
CAclubindia
