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All QuestionsCategory: GST ConsultancyGST Credit Note – Disclosure
Profile photo of Rajat KumarRajat Kumar asked 1 year ago

GST Credit Note – Disclosure

Sir,

Credit note issued by a supplier to our company. This results in raising a debit note by our company and reducing ITC in the GST returns.

Query: Whether we should show the net figure (ITC availed – Credit Notes) in 4(A)(5) or show the gross figure in 4(A)(5) and credit note reversal in 4(B)(2) under other reversals. What is the correct disclosure in the GST returns?

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Profile photo of Sakshi VirmaniSakshi Virmani replied 1 year ago

You can show net figures.