What is the effect of credit notes issued in relation to exempt supplies, zero- rated supplies and non-GST outward supplies? : WIRC GST Helpdesk

What is the effect of credit notes issued in relation to exempt supplies, zero- rated supplies and non-GST outward supplies? Print

Created by: WIRC-GST Helpdesk .

Modified on: Thu, 13 Jun, 2019 at 6:52 PM

Supply of exempt, zero-rated and non-GST outward supply of goods and/ or services are not liable to GST. In such a scenario, the credit notes issued for claiming reduction in the taxable value shall be recorded in the audited annual

financial statements. Such credit notes should be declared against Part II Sl. No. 5J of FORM GSTR-9C. Where credit notes related to zero-rated supplies are already reported in FORM GSTR-1, in FORM GSTR-9 as well as in books of accounts, such credit notes may not be declared in this Sl. No.5J.

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What is the effect of credit notes issued in relation to exempt supplies, zero- rated supplies and non-GST outward supplies? Print

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