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GST credit note format

For goods returned, price cuts or excess tax, with the fields rule 53 asks for.

8 fields
6 always needed
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In short

A GST credit note is issued by the supplier to reduce the taxable value or tax of earlier invoices, for example when goods come back or the price is cut (CGST Act, section 34). Rule 53(1A) asks for the supplier's and recipient's details, the words "credit note", its own number and date, the invoice or invoices it relates to, the taxable value and the tax reduced. Declare it no later than 30 November after the end of the financial year.

8 fields, 6 always needed

What it must show.

Each field, with the rule it comes from.

AlwaysWhen it applies

Number	Field	Needed	Rule
01	"Credit note" and its number and date	Always	Rule 53(1A)(a)–(c): nature of the document, a consecutive number of up to 16 characters unique for the year, and the date.
02	Supplier's name, address and GSTIN	Always	Rule 53(1A)(a).
03	Recipient's name, address and GSTIN	Always	Rule 53(1A)(d), or the delivery address and state for unregistered recipients.
04	Original invoice number(s) and date(s)	Always	Rule 53(1A)(f): one credit note may cover one or more invoices.
05	Taxable value, tax rate and tax reduced	Always	Rule 53(1A)(g) and (h), head by head: CGST + SGST/UTGST or IGST, as on the original invoice.
06	Reason	When it applies	Not in the rule, but it helps the buyer and the auditor: goods returned, rate difference, discount.
07	Signature	Always	Rule 53(1A)(i).
08	IRN	When it applies	Credit notes are e-invoiced like invoices when your AATO is above ₹5 crore.

Questions

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01What is the time limit for a GST credit note?

It must be declared in a return for a month no later than 30 November after the end of the financial year of the supply, or the date of filing the annual return if that is earlier. After that, the tax cannot be reduced through the credit note.

02Does the buyer have to do anything?

Yes. The credit note shows up in the buyer's GSTR-2B as a reduction of input tax credit, and the buyer must reverse that credit. Your output tax goes down only to that extent.

03Can a credit note cover several invoices?

Yes. Since the 2022 change to section 34, one credit note can relate to one or more invoices; list them all.

04How are credit notes made in MyRecords?

On a submitted sales invoice, press Create › Credit Note. It copies the invoice's lines at negative quantities, with the same kind of GST, posts the reversal to the ledger and can put the goods back into stock. It prints as a credit note against the original invoice and goes into the CDNR or CDNUR table of the GSTR-1 file.

In MyRecords