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

Credit note reporting must occur in the annual return for the supply year if issued before the statutory filing deadline. Credit note adjustments for supplies must be reported in the annual return applicable to the year of the original supply when the credit note is declared within the statutory post supply filing window; the statutory filing deadline or the date of furnishing the relevant annual return, whichever is earlier, determines in which year the adjustment must be reflected. Disclosure should be made in the designated credit note table of the annual return or the corresponding reconciliation table.