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TREATMENT OF REJECTED GOODS, Goods and Services Tax - GST

Issue Id: - 114572
Dated: 1-2-2019
By:- ARPIT OJHA
TREATMENT OF REJECTED GOODS

  • Contents

Hello everyone,

My query is how to account for the rejected material by the purchaser in Books of Account. The purchaser is denying to issue Debit Note / Rejection Memo. Sale Invoice has already been raised.

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Showing Replies 1 to 7 of 7 Records

1 Dated: 1-2-2019
By:- YAGAY andSUN

You can simply issue a credit note. As per the provisions of GST Laws, Credit Notes/Debit Notes can only be issued by the seller of goods.


2 Dated: 1-2-2019
By:- Spudarjunan S

Issue a tax credit note with the GST component as per section 34 of CGST Act, 2017 if you had made domestic taxable supplies or made zero rated supplies with payment of Integrated Tax. By issuing the Tax credit note you reduce your output tax tax liability provided the recipient also reduces his ITC in relation to the same.

If you had exported such goods and re-importing the same you need to avail the benefit of notification no.45/2017-Cus (Tariff) dated 22nd July 2017 where you don't need to pay BCD but only the reversal of any benefits availed while making the original export. Anyhow you can issue a credit note for the transaction.


3 Dated: 1-2-2019
By:- ARPIT OJHA

The problem is that the purchaser is not considering the materials in his books of accounts. He is returning back the same from outside his factory premises.

If i issue a Credit Note then how the transaction will be nullified at both the ends..


4 Dated: 2-2-2019
By:- YAGAY andSUN

since your customer had not accounted for these purchases in their books of accounts therefore it would be sufficient to issue a credit note on such transactions to effect nullification.


5 Dated: 2-2-2019
By:- KASTURI SETHI

I support the views of both experts. Comprehensive and clear replies.


6 Dated: 3-2-2019
By:- DR.MARIAPPAN GOVINDARAJAN

You may issue credit notes as advised by our experts.


7 Dated: 4-2-2019
By:- ARPIT OJHA

Thanks all for your valuable feedback.


1

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