TaxTMI 
TaxTMI 
Sir, what is the time limit under GST for issuing debit note with GST ?
Can i issue debit note related to 2017-18 today.
Time limit for issuing debit note under GST
11 Dec 2019 
4 Replies 
5248 Views Asked by
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. (AI Summary)
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. (AI Summary)