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
Credit Note Timing Under CGST Act Section 34: Challenges with Returns from March 2018 and Practical Solutions Suggested. A forum discussion addresses the issuance of Credit Notes under Section 34 of the CGST Act, specifically regarding the timing restrictions. A query is raised about issuing a Credit Note for goods returned in October when the supply was made in March 2018. Respondents suggest that, legally, Credit Notes must be declared by September of the following fiscal year, but practical difficulties exist. They recommend raising the issue with the GST Council for clarification. Some replies reference past VAT practices and suggest alternative solutions, such as using a Tax Invoice instead of a delivery challan. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
