Time limit for issuing debit note under GST

[KARAN VERMA]

Sir, what is the time limit under GST for issuing debit note with GST ?

Can i issue debit note related to 2017-18 today.

[KumaraswamyReddy Alluganti]

Dear sir ,

Please elaborate your query . Whether you are a supplier or Recepient ??

Supplier Point of view

Any registered person who issues a credit note in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier

For debit note there is no such time limit

[Atul Rathod]

No time limit for debit note

[Atul Rathod]

assuming you are supplier. If you are receipient and raising debit note-at first instance, only supplier can issue credit note and even than if you raise the debit not as receipient than time limit applies as 30th sep of following FY

[Rajendra Prasad]

Dear Mr Karan

There is no time limits for issue of debit note. However please check the applicability of Interest on some situations.

AI Summary

Debit note time limit under GST: no statutory deadline, while credit note reporting must meet post financial year return deadlines. There is no statutory time limit for issuing a debit note under GST, though interest may apply in certain situations. In contrast, a credit note must be declared in the return for the month of its issue and no later than the September following the end of the financial year of the original supply or the date of filing the relevant annual return, whichever is earlier. Only the supplier may issue a credit note; recipient-initiated adjustments invoke the credit-note reporting framework and its deadlines.