EXCESS CREDIT NOTES THAN TAXABLE INVOICES

[KERAGODEGOPALARAO ANANTHARAO]

1. Ours is a chartered accountants firm.

2. For the month of September 2021, for the bills which are unpaid before September 2021, as well which is paid less than our billing amount, we have issued credit notes on B2B invoices.

3. The credit notes are resulting in excess tax paid of ₹ 75000/-

4. We have filed the GSTR-1 in which excess paid by us is reflecting.

5. while we are trying to file GSTR-3B that excess amount is not autopopulated.

6. Excess paid is neither in electronic cash or credit ledger nor in portal anywhere.

7. What is the fate of the excess tax paid.

8. When the amount is collected, we have to raise tax invoice, how this problem is get solved.

Kindly guide me

Yours faithfully,..

K G Anantharao

AI Summary

Chartered Accountants Firm Seeks Solution for GST Discrepancy Due to Credit Notes and Unpaid Invoices; Legal Advice Sought A chartered accountants firm faced an issue with excess tax paid due to credit notes issued for unpaid or underpaid invoices, resulting in a discrepancy of 75,000 in their GST returns. The excess amount did not appear in their GSTR-3B, and they sought advice on how to resolve this. Responses suggested raising a ticket with the GSTN help desk, checking the legality of issuing credit notes for bad debts, and consulting jurisdictional authorities. The firm highlighted the challenge of adjusting the tax in returns when clients pay less than billed amounts, necessitating credit notes and fresh invoices.