Credit Note u/s 34
Query (Issue) Started By: – sunil jain Dated:- 20-11-2018 Last Reply Date:- 2-12-2018 Goods and Services Tax – GST
Got 6 Replies
GST
As per section 34(2) of CGST Act, any registered person who issues Credit Note(CN), shall declare the details of such CN in the return for the month during which CN has been issued but not later than September following the end of the FY in which supply was made.
Say if supply of good was made in March 2018, and goods are returned back in October, does it mean CN can not be issued in Oct or so?
Pl clarify.
Thanks,
CA. R.K. Aggarwal
Reply By DR.MARIAPPAN GOVINDARAJAN:
The Reply:
As per the provisions of law it is yes. But some clarifications have to be issued in this regard
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then vat was not allowed to be reversed. In some state it was one year. Since GST is consolidaicon of erstwhile law then I doubt that GST Council will allow to take benefit on the sales return after September month of subsequent financial year.
Reply By KASTURI SETHI:
The Reply:
There is legal force in the views Sh.Ganeshan Kalyani Ji. What I want to say voice should be raised before GST Council on the ground that there must be no restriction of time factor for sales return. Supplied goods should be allowed to return directly or indirectly at any time.
Reply By CASusheel Gupta:
The Reply:
You can ask your customer to send the goods on Tax Invoice instead of on delivery challan and issue of credit note.
Discussion Forum – Knowledge
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