The due date for filing Annual return in Form GSTR-9/GSTR-9A and reconciliation statement in GSTR-9C for the F.Y. 2017-18 has been extended from 31st August 2019 to 30th November 2019.
Section 34 of the CGST Act specifies the credit notes for which a disclosure is required in the annual return. Financial Credit Note not being part of the same does not attract any disclosure requirement nor GST provisions are applicable on them. Hence, they are not required to be reported under GSTR 1 or 3B or 9/9A.
Still financial credit note might form part of GTSR 9C as they adjustments might be required for reconciling books of accounts and Goods and Service Tax Returns filed for the period.
Yes, separate disclosure in annual return is required for credit note issued to registered and unregistered persons.
B2C i.e. Business to customer supply and B2B i.e. Business to Business supply shall be bifurcated. But there is no requirement for further classification for B2C supply on the basis of large i.e. >2.5 lakhs sales and others. The B2C supply reported under GSTR 1 under Table 5 and 7 shall be disclosed net off of credit notes, in annual return under Table 4A.
Credit note issued for downward revision under GST, in respect of invoice issued under earlier tax law, shall as per section 142(2)(a) of CGST Act be deemed to have been issued under Goods and Service Tax. Hence, such credit notes shall be disclosed in 4(I) of the annual return.
Credit note under GST is issued as per provisions of section 34 of the CGST/SGST Act. And, if the credit note has been amended for
In this case, since both the issuance of credit note and its disclosure falls in the same year, there is no confusion as to its reporting. It shall be reported in the annual return to be filed for the respective year as
Credit note is generally issued next year when a sales done now, has been returned back in the next year. Which in itself is an ambiguous issue. And, there are two practices being adopted to adhere this,
Although there is a delay in disclosure of the credit note in GSTR 1. But, as it is related to the previous financial year and has been disclosed till Sep 2018. A disclosure in the annual return to be filed till 31st dec 2018 shall be made in part V.
Credit note amended till Sep of the next financial year namely, Sep 2018 in this case, shall be reported in annual return part V, to be filed till 31st Dec 2018.
There is no special provision as to reporting of credit notes amended and disclosed within the same financial year. It shall be reported in the annual return as per normal provisions, i.e.
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