Reversal of invoice dated FY 21-22 in FY 22-23

[Aeka Team]

One of the customers missed the accounting of tax invoices related to FY 21-22 in their books, and now they are requesting us to reverse those invoices in the current period in our books and re-raise the invoice. Please advice if the same is possible as per GST provisions

AI Summary

Customer's Request to Reverse and Reissue Tax Invoices Denied Due to Non-Compliance with GST Sec. 34(1) & 34(2) A customer failed to account for tax invoices from FY 21-22 and requested a reversal and re-issuance in FY 22-23. Three responses address this under GST provisions. The first response highlights that issuing a credit note is not applicable as the conditions under Sec.34(1) and 34(2) are not met, and the deadline for such action has passed. The second response suggests re-raising the invoice but warns that the GST paid earlier cannot be adjusted, leading to additional costs. The third response agrees with the first, emphasizing the inapplicability of a credit note and the expired timeframe.