Supplier failed to furnish credit notes in monthly return GSTR 1 and GSTR 3B for F.Y 2017-18.

[JIGAR SHAH]

Case :

Supplier (Mr.A) made B2B sales and also issued credit notes against such sales in F.Y 2017-18. However supplier (Mr. A) has not furnished details about such credit notes in monthly GSTR 1 and GSTR 3B for F.Y 2017-18. Supplier (Mr. A) made full payment of GST without considering credit notes for F.Y 2017-18.

Issues :

What will be the effect of credit notes to be given in the annual return GSTR-9 and GSTR-9C for F.Y 2017-18 when such credit notes details were not furnished in the monthly GSTR 1 and GSTR 3B of F.Y 2017-18 by (Mr. A)? How supplier claim such credit notes?

[Ganeshan Kalyani]

Any adjustment to the invoice pertaining to FY 2017-18 was to be carried out in the return upto the month of March, 2019. Now, there is no scope for taking benefit of credit note.

AI Summary

Credit note adjustment must be reported in monthly returns or no entitlement to claim benefit in annual returns. Any adjustment to invoices for the financial year had to be carried out in the monthly/periodic returns up to the prescribed cut-off; failure to furnish credit note details in monthly GSTR-1 and GSTR-3B within that period precludes taking the benefit of those credit notes in the annual returns GSTR-9 and GSTR-9C.