GST Updates News Notifications - SCA
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πŸ‘1
*What is New Time limit for GST Credit Note*: [ ❌Don’t follow wrong practice ]

πŸ‘ As per Amended Sec 34(2), now GST Credit Note can be declared in GST return till 30th Nov of next F.Y.

πŸ‘ Normally Oct month GSTR 1 will be filed by 11th Nov. Thereafter no GSTR 1 will be filed in Nov month. *Therefore, for practical purpose* -

     βœ… Maximum time till credit note can be β€œissued” is 31st Oct of next FY
     βœ… And, then such credit note should be declared in Oct GSTR 1 and 3B. However kindly ensure to file Oct GSTR 1 and 3B by maximum 30th Nov

πŸ‘ So, in nutshell, *Remember to issue credit note till* 31st Oct of next FY and its *disclosure in GST Return* before 30th Nov.

❌ Don’t get confused and follow wrong practice. Nothing can be done in Dec month for GST Credit note ( neither issuance or disclosure will be possible ).
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