https://www.taxtmi.com/forum/issue?id=118337 Credit notes under credit note u/s 34(1) are not available for unpaid invoices (bad debts). The statutory time limit u/s 34(2) mandates declaration in the return for the month of issuance or by the following November thirtieth or date of the annual return, whichever is earlier; if that period has elapsed, credit notes cannot be declared or used to adjust output tax. The proviso bars reduction in output tax where the incidence of tax and interest has been passed to any other person. GST returns are not routinely revisable and GST remains payable even if sale proceeds are not received. en-us Mon, 23 Jan 2023 13:28:27 +0530 Thu, 23 Jan 2025 15:54:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118337 Credit notes under credit note u/s 34(1) are not available for unpaid invoices (bad debts). The statutory time limit u/s 34(2) mandates declaration in the return for the month of issuance or by the following November thirtieth or date of the annual return, whichever is earlier; if that period has elapsed, credit notes cannot be declared or used to adjust output tax. The proviso bars reduction in output tax where the incidence of tax and interest has been passed to any other person. GST returns are not routinely revisable and GST remains payable even if sale proceeds are not received. Discussion-Forum GST Mon, 23 Jan 2023 13:28:27 +0530 https://www.taxtmi.com/forum/issue?id=118337