Clarification on time limit for issuance of Credit Note for FY 2022-23 —- Sec 34(2) reads as Any registered person who issues a credit note in relation to a supply of goods or services or both – shall declare the details of such credit note – in the return for the month during which such credit note has been issued – but not later than the thirtieth day of November – following the end of the financial year in which such supply was made, – or the date of furnishing of the relevant annual return, whichever is earlier, – and the tax liability shall be adjusted in such manner as may be prescribed
Note: 1) Reference is given to the Due date of reporting and not the due date of issuing. 2) The last date to report is 30th Nov 3) in Nov last GSTR 1 can be filed of as of Oct 23. 4) Accordingly any credit notes issued with the date after 31st Oct cannot be entertained for a reduction in the Tax Liability. 5) REview your debtors, please check if the materials anything returned, if there is any dispute on the quality of goods sent, and act accordingly before the end of this month. 6) Bad debts cannot be a reason for issuance of Credit notes.