E invoice and credit note

[Harshit Sanghvi]

Dear Members,

For E invoice applicability whether aggregate turnover after sales returns, credit notes to be considered or value before Credit notes.

Please guide

Thanks

[DR.MARIAPPAN GOVINDARAJAN]

In my view before credit notes.

[KALLESHAMURTHY MURTHY K.N.]

Dear Sir,

As per the e-way bill rules, an e-way bill is required to be carried along with the goods at the time of transportation, if the value is more than Rs.50,000/-. So any goods in transit, its value is to be mentioned in the e-Way bill along with the invoice, delivery challan etc. Credit Notes must declare the value of return goods

[Shilpi Jain]

Net of GST credit notes to be considered as the taxable value reduces to that extent.

AI Summary

Debate on Calculating Turnover for E-Invoicing: Should Credit Notes Be Accounted Before or After Under GST? A participant inquired about whether e-invoice applicability should consider aggregate turnover before or after accounting for sales returns and credit notes. One respondent suggested considering the value before credit notes. Another highlighted that e-way bills must include the value of goods in transit, mentioning that credit notes should declare the value of returned goods. A third respondent advised considering the net of GST credit notes, as they reduce the taxable value. The discussion focuses on understanding how credit notes impact the calculation of turnover for e-invoicing under GST.