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EXCESS CREDIT NOTES THAN TAXABLE INVOICES, Goods and Services Tax - GST

Issue Id: - 117579
Dated: 20-10-2021
By:- KERAGODEGOPALARAO ANANTHARAO
EXCESS CREDIT NOTES THAN TAXABLE INVOICES

  • Contents

1. Ours is a chartered accountants firm.

2. For the month of September 2021, for the bills which are unpaid before September 2021, as well which is paid less than our billing amount, we have issued credit notes on B2B invoices.

3. The credit notes are resulting in excess tax paid of ₹ 75000/-

4. We have filed the GSTR-1 in which excess paid by us is reflecting.

5. while we are trying to file GSTR-3B that excess amount is not autopopulated.

6. Excess paid is neither in electronic cash or credit ledger nor in portal anywhere.

7. What is the fate of the excess tax paid.

8. When the amount is collected, we have to raise tax invoice, how this problem is get solved.

Kindly guide me

Yours faithfully,..

K G Anantharao

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Posts / Replies

Showing Replies 1 to 5 of 5 Records

1 Dated: 20-10-2021
By:- Rajagopalan Ranganathan

Sir,

The credit notes were issued in September 2021. They will be included in GSTR-1 for September 2021. The last date for filing GSTR-1 for September is 11.10.2021. It will be auto ,populated in GSTR-3B for September 2021 for which the last date is 20.10.2021. You may take up the inaccuracy with GSTN help Desk by raising a ticket.


2 Dated: 21-10-2021
By:- Shilpi Jain

What do you mean by you have paid excess tax in GSTR-1. There can be no tax paid by GSTR-1 maybe you are trying to say that you have shown excess liability in GSTR-1.

Also please check if you will be able to issue GST credit notes for contemplated bad debts may not be allowed in the law


3 Dated: 22-10-2021
By:- Ganeshan Kalyani

You can raise a ticket at GSTN.


4 Dated: 27-10-2021
By:- ABHISHEK TRIPATHI

Dear KA Sir,

Your adjustment of tax liability will happen after some checks and balances. I think sometimes it takes time. May approach your jurisdictional authority. As you have raised the CN in September, in any case you will be able to adjust the tax liability in future.


5 Dated: 22-11-2021
By:- KERAGODEGOPALARAO ANANTHARAO

Dear sirs/Madams,

So far excess tax paid by credit notes are not reflected in GSTR-3B.

We have received the cheques from clients for fees for which already issued credit note.

Hence we issued credit notes, we issued fresh invoice for amount credited to bank and declared in GSTR-1 as B2B supplies.

The tax amount is reflecting in GSTR-3B.

How i can write off the tax with department, which is on credit note issued to B2B invoices.


1

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