Credit Note

[KUMAR Narasimhan]

Dear Sir And Madam,

If Credit note has been Issued on 30th Jun 2023 for the supply made in January 2023, under GSTR-9 and GSTR-9C in which year it has to report.

From the above situation if the Credit Note Issued on 2nd December 2023 what is the treatment.

Sec 34(2) does not says that Credit note Issued after the end of the Financial year for the supply made for the Previous year to be reported in the previous year Annual return. Please clarify

[Padmanathan KV]

Query 1 - Credit note has been Issued on 30th Jun 2023 for the supply made in January 2023

GSTR-9 Table 11 - Pls see the instructions thereto in this regard

In GSTR-9C Table 5E may be used.

Query 2 - Supply made in Jan 2023, Credit note issued on 2nd Dec 2023.

Pls specify whether this is commercial credit note or not?

Credit note under section 34(2) has to be declared in returns before the 30th November following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.

[Ganeshan Kalyani]

There is also a practice of showing credit note in the Table 4 of GSTR-9. However, disclosing it in Table 11 seems more appropriate.

[KUMAR Narasimhan]

Dear Sir,

Thank you so much for your reply

AI Summary

Clarifying GST Credit Note Reporting: Use GSTR-9 Table 11, GSTR-9C Table 5E; Report per Section 34(2) Before Deadline. A forum participant inquired about the reporting of credit notes under GST, specifically when a credit note issued on June 30, 2023, for a supply made in January 2023, should be reported. Another scenario involved a credit note issued on December 2, 2023, for the same supply. Respondents suggested using GSTR-9 Table 11 and GSTR-9C Table 5E for reporting. It was clarified that credit notes under section 34(2) should be declared before November 30 of the following financial year or before filing the annual return, whichever is earlier. Another respondent mentioned using Table 4 of GSTR-9 for disclosure.