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

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.