Issue of credit note/debit note is important to keep the system of invoicing transparent for both parties. Q5: There is no field for the credit note, debit note, advances received etc. 1.2 Debit Note – Section 2(38) means a document issued by a registered person under sub section (3) ofSection 34 of CGST Act, 2017. (see attachment – Tally data GSTR 3-B view) To get the compliances and returns all right and on time, we first need to understand the purpose of Filing that GST Return. Open the Tile “9B – Credit / Debit Notes (Registered)“. This article will help you understand how to do it easily and without stress!   17 October 2017, RAJA P M Discussed this in 4th Point. Sale return shown as Purchase & Thereby claiming wrongly ITC on it – You cannot show this in GSTR 3b as “INWARD”. The GSTR-3B for the month of September, 2020 is going to be a critical GST return in regard to Input Tax Credit. Check GSTR-1 filling option of enable the API access. Information about the inward supplies on which reverse charge is applicable. ClearTax can also help you in getting your business registered for Goods & Services Tax Law. The taxpayer needs to show the entries of credit/debit note raised by him in GSTR1 & GSTR 3B Returns. In case of GSTR 3B, You have to reduce the sales return values from the total sale. CAs, experts and businesses can get GST ready with ClearTax GST software & certification course. Details of Turnover including Exempt Supplies, Export of Goods or Services or both stating the Taxable Value, CGST, SGST and IGST for the month for which return is being filed. This is including advances and net of credit and debit notes. In order to show the details of the Credit/debit note in GSTR 1, follow the below steps. A: In GSTR-3B data has to be filed as net amount i.e. Further in GSTR B … then how the data regarding that has to be filled? 3.2. 17 October 2017, Actual Sales - 27446 & CGST 2638 + SGST 2638, Credit Note (Sales Return) - Value 225375  CGST 20284 & SGST 20284, Debit Note (Purchase Return) - Value 272256 IGST 49006, Kannan GSTR 3B is a summary level return of all outward and inward supplies that all GST registered businesses have to file on a monthly basis by the 20th. Please suggest. Any invoice/debit note/credit note (including sales invoice) or ITC claim of FY 20-21 missed to be reported in GSTR 3B can be reported/adjusted in upcoming GSTR 3B till earlier of September 2021 or before filing of annual returns. In case other party is issuing, we will select second option. You have to reduce sales in GSTR 3B .. For filling these, table 3.1(d) of FORM GSTR-3B may be used. Amount of Input Tax Credit available during the month. We are getting this error while filing GSTR3B Total amount of Integrated Tax in section 3.2 should be less than or equal to the section 3.1(a) Integrated Tax . ClearTax serves 2.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India. The recipient can either modify or accept or reject these details and file form GSTR 2. No answers yet, if you know the answer help us. Hello sir, I am working as accountant, we have issued debit note for some purchase where material is returned. In case we are issuing a revised invoice (in case of sales return), we will select first option. Under GST, it holds relevance in reporting in the returns as well. here return means only gstr-3b and not gstr … Set the options Show voucher reference number and Show voucher reference date to view these details in separate columns. Credit Note and Debit Note Details; GSTR-3B. From Tally.ERP 9, you can generate GSTR-3B, export the data in the JSON format, and upload it to the portal to file the returns. The supplier shall mention the details of debit and credit note in form GSTR 1. Provisions of section 39(1) of the CGST Act, 2017 and rule 61 of the Central Goods and Services Tax Rules, 2017 governs the GSTR-3B filing. Click here to Login / Register, GST certification It is evidently mentioned in the table that supplies are to be declared net of debit/credit notes. 4J; 4J in GSTR 9 contains details of debit notes in respect of outward supplies in 4B to 4E of GSTR 9. GSTR 3-B is a summary form for making adjustments and payments of GST liability and Input Tax Credit for the month. Here is a compendium of a few questions we have been repeatedly receiving around mistakes in GSTR 3B and GSTR 1 and our answers on how to rectify them: 1. The annexure allows negative figures in case the value of credit notes exceeds the value of outward supply made, in the given tax period. The details required are as follows:Â, Original invoice number (in respect of which credit/debit note is being issued)Â, Type (whether debit note, credit note or refund voucher)Â. Also, this shall include the aggregate value of all import of services. In the old return filing system, there was a separate table for declaration of credit/debit notes to registered persons but now such details can be declared within the same table used to declare outward supplies. Hello sir, I am working as accountant, we have issued debit note for some purchase where material is returned. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. 4 . The present return filing system (GSTR-1, 2A & 3B) will continue until September 2020.   Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Learn about the differences with example. Such a debit note would notify M/s Sharma traders that a debit needs to be made in their own account. Hence, liability has to be paid through GSTR 3B. Credit note & debit note in the new GST returns will have some changes in the way it was reported in GSTR-1 and GSTR-3B. Any invoice/debit note/credit note (including sales invoice) of FY 17-18 missed/ incorrectly reported in GSTR 1/3B can be reported in upcoming GSTR 1/3B till earlier of September 2018 or before filing of annual returns Note: GSTR1/3B once filed cannot be amended, but any invoice if missed/incorrectly reported can be added in upcoming GSTR 1 /3B Since it relates to B2C supplies, the declaration is not required to be made at the invoice level. GSTR-3B (May 2018) GSTR-3B (June 2018) June 20th, 2018: July 20th, 2018 Let’s understand the mistake and its possible resolution in GSTR Form-3B. The taxpayer needs to show the entries of credit/debit note raised by him in GSTR1 & GSTR 3B Returns. Then select MAKE PAYMENT/POST CREDIT TO LEDGER to settle your liabilities, as you cannot make any changes later to Form GSTR-3B. In order to furnish a credit/debit note, the same has to be selected from the ‘Document Type’ drop-down list. However, the new system does not require such linking of original invoices to be made within the return. Form GSTR-3B is an interim return form the GST dealers with regular registration should use, to file monthly returns. These details must be furnished in Table ‘3B: Supplies made to registered persons (other than those attracting reverse charge) (including edit/amendment)’. (FO) Report in their Form GSTR-1 or in Form GSTR-6, single credit note or debit note issued in respect of multiple invoices; Choose the note supply type as Regular, SEZ, DE, Export etc., to identify the table to which such credit note or debit note pertains; Indicate Place of Supply (POS) against each credit note or debit note, to identify the supply type i.e. Accordingly, ITC shall be adjusted for purchase return. No. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. This apart, the Officers also insisting for the payment of interest at the rate of 24% even if there is sufficient balance in the Electronic register for debiting the excess amount. Value and also whether the supply is eligible to be taxed at a differential percentage of the existing rate of tax, as notified by the government. E-invoice – Billing State Code and PIN code issue are fixed for Credit Note and Debit Note IRN Generation. Thanks. Corresponding changes have also been made in refund module. Now, how should I take declare this while filling 3b. Sir I am facing a similar problem where the value in table 3.1 (a) are in negatives. hi friends this video help you how to work credit note and debit note in tally gst. The Amount of Integrated Tax in 3.2 exceed total of Integrated Tax in 3.1 due to issue of credit notes following sales return during the month. Complete GST Compliance for your Business. is important to keep the system of invoicing transparent for both parties. 40,000 ( Rs. Delinking of Credit Note/Debit Note from invoice, while reporting them in Form GSTR 1/GSTR 6 or filing Refund Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Cr., after 15th October, 2020 Form GSTR-3B is an interim return form the GST dealers with regular registration should use, to file monthly returns. The GSTR 3B report is now available in QuickBooks. Generating GSTR 3B can be quite bothersome. Hence, they are not required to be reported under GSTR 1 or 3B or 9/9A. Amount of Input Tax Credit available during the month. Malti Kotia. 4J; 4J in GSTR 9 contains details of debit notes in respect of outward supplies in 4B to 4E of GSTR 9. GSTR-3B is a monthly self-declaration of GST return (it is quarterly for the QRMPscheme). (student) It is a simplified return to declare summary GST liabilities for a tax period. In the Note Type drop down select whether the details added are for a debit note, credit note or refund voucher. Credit note/debit note issued to registered persons (B2B supplies): This must be reported in Table ‘9B – Credit/debit notes (Registered)’. I have under-reported tax liability in my GST returns: When you have erroneously filed your tax liability and have … The reporting involves: The taxpayer must report these in Table ‘3A: Supplies made to consumers and unregistered persons (net of debit/credit notes)’. Form GSTR-3B is a return summarizing GST liability of the registered person for a specific tax period. Advisory on Delinking of Credit Note/Debit Note from invoice, while reporting them in Form GSTR 1/GSTR 6 or filing Refund. Due date of GSTR 3B is 20th of next month and the important part to know about it is that it cannot be revised so one should be precise and accurate while filling GSTR3B. The Officers merely marching Month on Month and directing the Registered persons to pay or debit the ITC when the ITC as per GSTR-2A is less than GSTR-3B. Data needed for Preparing GSTR-3B Form Information you need Sales Invoices Sales Credit Note, Debit Note Advance Receipts Purchase Invoices Purchase Credit Note, Debit Note Advance Payments (Reverse Charge Transactions) Excel Template for Input Sales Invoice Template Sales CDN Template Advance Receipt Template These details will be made available to the recipient in Form GSTR-2A, post which the recipient has to accept the details and submit in Form GSTR-2 . Mr A immediately verifies the same and issues a credit note for Rs.2,000 (CGST @ 9% = Rs.180 and SGST @9% = Rs.180). 2017-18 and the liability should not be reduced to the extent tax amount of such credit notes. IMPORTANT: You have to file GSTR-3B even when there has been no business activity (nil return). Under GST, it holds relevance in reporting in the returns as well. deepali gupta That means, DEF ltd. has time till the due date of filing GSTR-3B of September 2021 to claim the ITC on this debit note. © 2021 ‐ Defmacro Software Pvt. If computed value is negative, then it would be reflected as zero and will not reflect in next month’s GSTR-3B. If you check the GSTR- 2 Report, you will find the value got updated in GSTR-2 of tally erp 9. You cannot revise/amend GSTR3B. Debit note in GSTR -2. The particulars to be furnished in this table are GSTIN/UIN, place of supply, document details like type, CDN number, date and value, HSN Code, tax rate, taxable value, tax amount under each head -IGST/CGST/SGST/ UTGST/Cess. GSTR-3B Report has been added for the FY 2020-2021 to download GSTR-3B yearly. ("Do the Right Thing...!!!") Table 3.2 shows the breakup to unregistered and composite person and does not include supplies to registered person (to whom the credit note was issued). So we need to be extra – cautious in filling the GSTR 3-B Form so that the required Output Liability and the available Input Tax … These are issued in cases like Sales Return, Sales Adjustment, Price Difference, Bad Debts etcIn GSTR1, there are 2 types of Credit Note Debit NoteCredit Note Debit Note RegisteredIt is issued in case of Sales Return etc from Registered Parties (B2B Sales)Credit Note Debit Note UnregisteredIt is iss Even here, there is no requirement of linking the credit/debit notes to the original invoices.Â, Mr A supplied certain goods to Mr B (intra-state supply) on 1 May 2019 with a taxable value of Rs.10,000 and GST charged at 18% (9% CGST and 9% SGST) thereon.Â, An extract of the invoice is produced below:Â. In this article, we will compare the reporting of. Generating GSTR 3B …   From Tally.ERP 9, you can generate GSTR-3B, export the data in the JSON format, and upload it to the portal to file the returns. The supplies are not to be declared on a net basis since the declaration is made at the invoice level. Debit Note Entry In Gstr 3b. Report in their Form GSTR-1 or in Form GSTR-6, single credit note or debit note issued in respect of multiple invoices; Choose the note supply type as Regular, SEZ, DE, Export etc., to identify the table to which such credit note or debit note pertains ... Read Also: GSTN: System computed values in GSTR-3B from GSTR 1 available. +Increase in Taxable Value -When a supplier requires to increase the taxable value of a supply, he/she has to issue debit note to the recipient. It can be classified as follows: Credit note/debit note issued to unregistered persons (B2C supplies): It must be declared in Table ‘9B – Credit/Debit Notes (Unregistered)’. Debit notes issued in respect of transactions specified in (B) to (E) above – Sl. But When you are returning a part of those goods reduces the Input tax credit as well. Table 3.2 shows the breakup to unregistered and composite person and does not include supplies to registered person (to whom the credit note … Further, the debit note must be only raised if you have already booked the purchases against which you are raising such debit note. The reporting of credit/debit notes on the GST portal was made in GSTR-1. This will got reduced in the Total ITC Availed. The details of outward supply provided in Table 3B are at the invoice level and hence each credit/debit note would also have to be provided individually, with all the requisite details. 2017-18, if credit note was issued/declared after sep, 2018 return, then it will not form part of gstr-9 for f.y. According we need to ensure that ITC in respect of all eligible invoices pertaining to FY 2019-20 is availed in GSTR-3B for September, 2020 to be filed. The reporting of credit/debit notes on the GST portal was made in GSTR-1. Turnover and tax values would be computed after considering Credit Note, Debit Note, amendment and advances (if any). There is no invoice level declaration in this table, hence individual credit notes need not be declared separately. The reason behind that is if a debit note is issued it will increase the value of supply and If value of supply will increase it will also increase the value of tax (GST) (note : it is to be noted that for invoices relating to f.y. Credit Note Debit Note (Unregistered) It is to be filled in case of cases like. The details of credit notes issued during the month should be furnished by suppliers in his GSTR-1. Supply type (whether inter-state or intra-state) and also if the supply is eligible to be taxed at a differential percentage of the existing rate of tax, as notified by the government. Debit notes dated before Mar 31, 2018 alone is required to be reported and not debit notes relating to … In such case how do we file the return? Enter the Note Value and the Reason for Issuing Note. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. Your are not logged in . Payment of Taxes. Dear Sir Madam Dec 17 Sales details as underTaxable Value IGST CGST SGST4202709 75 45826 82154 82154Credit Note Sales Return 952406 5 47620 Total3250303 25 1794 82154 82154Please suggest how to file our GSTR 3B Return negative balance not accept in GSTR 3B - GST Return Select the required month and press Enter. In other words, debit note is an intimation to M/s Sharma Traders that it still owes Kapoor Pvt Ltd an amount equal to Rs. Sales Invoice Print – Phone no print issue is fixed in Template 2. Every taxpayer must file GSTR … Note: It is advised to store the original invoice details for future reference. Assuming that both Mr A and Mr B are registered, Mr A will make the following declaration in ‘Table 3B’ of Form GST ANX-1 for the month of September: I would like to get latest GST & Tax updates on, Reporting of credit note/debit note under the old return filing, Reporting of credit note/debit note under the new return filing, Implication of changes in the return filing system, Illustration for reporting credit notes and debit notes, New MSME Act and its Effect on the Payment Cycle Under the New GST Returns, Forms under New GST Returns for claiming refund on Exports, Comparison Between the Old & New GST Return System – Miscellaneous, This page is best viewed in Chrome, Firefox or IE 11. It is a self-declaration return and the tax payer is not required to provide invoice level information in this form. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. 2 x 20,000) and GST of Rs. Select this option only … The details required are as follows: Type (whether debit note, credit note or refund voucher),Â. The most significant change when it comes to reporting of credit notes in the new return filing system is that there is no longer a separate table for this purpose since it is integrated within the table that is used to declare outward supplies: The details of outward supply provided in Table 3A need to be net of credit/debit notes. Debit Note Entry In Gstr 3b.   06 October 2017, RAJA P M Professional Course, Online Excel Course GSTR-1: While … TIME LIMIT FOR ISSUING DEBIT NOTE NOTE: No time limit has been prescribed for issuing a Debit Note. Thus, while applying for refund, taxpayers can now report such credit notes or debit notes in statements (filed during filing the refund application) without mentioning the related invoice number.   The action of the Officers is not warranted. These are issued in cases like Sales Return, Sales Adjustment, Price Difference, Bad Debts etcIn GSTR1, there are 2 types of Credit Note Debit NoteCredit Note Debit Note RegisteredIt is issued in case of Sales Return etc from Registered Parties (B2B Sales)Credit Note Debit Note UnregisteredIt is iss The old system of filing required the credit/debit notes to be linked against the original invoices that needed to be rectified. Note: Form GSTR-2B statement for a particular tax period is available for view and download only after the Form GSTR-2B gets generated for ... ITC availability is shown as No in Form GSTR-2B: – i. Invoice or debit note for supply of goods or services or both where the recipient is not entitled to Input Tax Credit. The particulars to be furnished in this table are the place of supply, tax rate, taxable value and tax amount under each head -IGST/CGST/SGST/UTGST/Cess. Till now, original invoice number was mandatorily required to be quoted by the taxpayers, while reporting a Credit Note or Debit Note in Form GSTR-1 or Form GSTR-6. Table 4I (Individual) Debit notes dated before Mar 31, 2018 alone is required to be reported and not debit notes relating to 2017-18 but issued in 2018-19. On filing the details it will get auto-populated in form GSTR 2A for the recipient. Entering details of preceding documents of a debit or credit note in the e-Invoice schema is optional. 1. The Debit Note Register appears as shown: 2. Under GST, it holds relevance in reporting in the returns as well. (i)A debit note/credit note must have the signature or digital signature of the supplier or his authorized representative. Efiling Income Tax Returns(ITR) is made easy with ClearTax platform. Ltd. ClearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. 3. watch_later 2 years, 11 months ago. The due date of filing of GSTR-3B for the month of September 2020 is 20/10/2020 ( upto 24 th Oct in some cases). Now, how should I take declare this while filling 3b.   16 December 2017, We are getting this error while filing GSTR3B Total amount of Integrated Tax in section 3.2 should be less than or equal to the section 3.1(a) Integrated Tax. 3 GSTR-3B filling.   19 January 2018. Note: Due date extended for filing FORM GSTR-3B for registered persons in Assam, Manipur, Meghalaya or Tripura for the month of November 2019 till 31st Dec 2019 (Read Notification) “Seeks to extend the due date till for furnishing of return in FORM GSTR-3B for registered persons in Jammu and Kashmir for the month of October, 2019” Read Notification Click F5: Columnar and set the options as required, to view the debit note columnar register. Please login to post replies CREDIT NOTE / DEBIT NOTE Debit Note in GSTR1 Return Since debit notes are a major change to an invoice, they have to be reported separately in the GST returns to ensure a free flow of credits to the last mile in a GST environment. Download ClearTax App to file returns from your mobile phone. 06 October 2017, Rushabh Reporting of credit note/debit note under the old return filing system. GSTR-3B Filing - monthly return filed by taxable people of the details of outward & inward supplies. The supplier shall mention the details of debit and credit note in form GSTR 1. GST Returns: Use of GSTR 2B in GSTR 3B. When we click on MAKE PAYMENT/POST CREDIT TO LEDGER, the GST Portal will check the available Cash ledger balance. 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. However, on 1 August 2019, Mr B finds out that goods worth Rs.2,000 (excluding GST) were defective and requests Mr A to issue a credit note in respect to the defective goods. 2000 under original invoice. Input tax credit in respect of: any invoice issued in FY 2019-20 or a debit note related to any invoice which was issued in FY 2019-20; cannot be availed after; due date of furnishing of return u/s 39 (GSTR-3B) for September,2020 or furnishing of annual return for FY 2019-20 whichever, is earlier. Just upload your form 16, claim your deductions and get your acknowledgment number online. Please suggest. Professional Course, India's largest network for finance professionals, Interest on savings account deductible under secti, Procedure to file ITR of LLP which got converted i, Wrong Credit Note showing in my GST2A ,do I need t. Debit notes issued in respect of transactions specified in (B) to (E) above – Sl. Limited Period Offer Avail 25% Off in CA Final and CA Inter and 40% in CA IPCC subjects.Coupon- CA25 & CCIIPCC40 Call: 088803-20003, Bhavik Shah In order to show the details of the Credit/debit note in GSTR 1, follow the below steps. What is GSTR-3B? Now, how should I take declare this while filling 3b. You can file your GSTR 3B return through the GST portal. Can the November credit note can be adjusted against December sales? Also, liability is determined from GSTR 3B and not from GSTR 1. Because at the time of purchase entry,we have recorded the CGST & SGST for availing input tax credit. A debit note in GST, is a document issued by the supplier in the following cases: Increase in Taxable Value -When a supplier requires to increase the taxable value of a supply, he/she has to issue debit note …