Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Latest Cases

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

GST 3B and returns, Goods and Services Tax - GST

Issue Id: - 115214
Dated: 20-7-2019
By:- Madhavan iyengar
GST 3B and returns

  • Contents

A Company has sold some products for ₹ 20 lacs and discharged GST on same

Subsequently after 3 months the recipient B sends back certain material of ₹ 2 lacs under GST invoices after charging gst

Company A on return of material took credit of the ₹ 2 lacs returns based on invoice received on return and did not show as sales return in its GSTR-1

Is above treatment correct

Post Reply

Posts / Replies

Showing Replies 1 to 3 of 3 Records

1 Dated: 20-7-2019
By:- RAHUL GAIKWAD

No,

a company has to Show in GSTR-1 as a Reg. Credit Note.


2 Dated: 20-7-2019
By:- Ganeshan Kalyani

This is practically done. Issuing credit note by supplier based on the intimation of returning the goods and buyer preparing delivery challenge and eway bill by giving reference to the credit note is tedious. The provision is clear but practical it has procedural difficulties. Thus some parties treat it as supply while returning and raise tax invoice with GST.

But otherwise such transaction has to be routed through credit note because a supplier cannot show as purchaser of his own goods from the customer.


3 Dated: 21-7-2019
By:- KASTURI SETHI

Well explained by Sh.Ganeshan Kalyani Jiyes. Reply indicates he is beaming with full confidence.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||