Effect of Credit Notes to be given in annual return for F.Y 2017-18 which are not shown in GSTR1 Monthly return of F.Y 2017-18.

[JIGAR SHAH]

Case :

Supplier made B2B sales against which credit notes are received, however supplier has not furnished details about such credit notes in monthly GSTR 1.

Should such credit notes be claimed in GSTR 9-Annual return? However, it is not possible to be give bill wise bifurcation in annual return GSTR 9 and if credit notes shown in GSTR 9-Annual Return for F.Y 2017-18 then there will be decrease in tax liability.

Issues :

What will be the effect of credit notes to be given in the annual return for F.Y 2017-18 when such credit notes details were not furnished in the monthly GSTR 1 return of F.Y 2017-18?

[PAWAN KUMAR]

Sir, plz provide query clearly. Who is supplier and who is buyer. Who issue credit note and who is filing annual return.

AI Summary

Credit note reporting: can unreported monthly credit notes be included in the annual return to adjust tax liability? Supplier issued credit notes for B2B sales that were not furnished in monthly GSTR 1 returns; the question is whether those credit notes can be claimed in the annual return (GSTR 9) despite the annual return's inability to provide bill wise bifurcation and the fact that doing so would reduce the reported tax liability. The reply sought clarification on who issued the credit notes and who is filing the annual return.