Cancellation of invoices under GST
Dear Professionals,
My query is that under GST Tax Regime how to counter continuous cancellations of GST invoices of rental bills And service bills given to the respective parties. The reason for cancellation is non payment of invoices due to recession in market due to Covid-19.
With Warm Regards
J S Uppal
Tax Professional
Handling GST Invoice Cancellations: Revise Rental Terms, Cancel within 24 Hours, or Use Credit Notes for Compliance A tax professional inquired about handling continuous cancellations of GST invoices for rental and service bills due to non-payment amid the Covid-19 recession. One respondent suggested revising rental terms to address Covid-19 impacts and noted that invoice cancellations must occur within 24 hours on the IRN. If beyond this period, manual cancellation on the GST portal is required before filing returns. Another respondent agreed and recommended issuing a credit note against the original invoice as an alternative solution. (AI Summary)
Goods and Services Tax - GST
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