ENTRY OF CREDIT NOTEHOW TO SHOW AGAINST B2CS IN GSTR1 MARCH AGAINST BILL OF JAN

[nandankumar roy]

SIR, AS PER CREDIT NOTE POSTING REGARDING B2CS SUPPLIER PL CONFIRM WHETHER I AM WRONG OR RIGHT IN CASE OF RETURN PERIOD MARCH GSTR1 , WE HAVE TO DEDUCT TAXABLE AMT FROM PARTICULAR STATE FROM MARCH RETURN EVEN IF THE CREDIT NOTE AGAINST JANUARY INVOICES . PL HELP REGARDING THIS.

WITH REGARDS,

N K ROY

[Ganeshan Kalyani]

You can show credit note generated in the month of march in the march return. The original supply can be of Jan 2018.

AI Summary

Timing of credit note: report adjustments in the return for the period of issue, even if supply was earlier. A credit note must be reported in the GSTR 1 return for the period in which the credit note is issued; an original supply dated earlier does not change that reporting requirement. Thus, a credit note issued in March against a January invoice should be used to deduct taxable value from the March GSTR 1 (B2CS) for the relevant state.