32764 GST Purchase Return Debit Note (to vendors) and Sales Return Credit Note (to unmanaged sites) has been introduced
Feature Video
| Widget Connector |
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| url | https://www.youtube.com/watch?v=7oqUH9Owi0k |
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| Info |
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| title | Thumb rule for Debit Note / Credit Note in GST Regime |
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As per GSTN upload provisions, the supplier should issue a credit note against single Tax Invoice only, multi Tax Invoices in single credit note is not allowed. However, you can issue multiple credit notes against a single invoice if required. |
Purchase Return:
- To the Registered Vendor
There can be two ways to return the goods to the vendor, i.e., either by issuing a 'Tax Invoice' or by issuing a 'Debit Note' against which the supplier will issue a credit note. In Ginesys post GST release, only the first option was available, i.e., issuing a Tax Invoice but we received various feedback that instead of issuing a Tax Invoice (as it increases the output GST liability), they want to decrease the input itself, i.e., issuing a debit note.
For issuing Tax Invoice, you will need to select numbering scheme of 'GST - Invoice' type which will show GST Applicability as 'Outward Supply' in the transaction.
For issuing Debit Note, you will need to select numbering scheme of 'Other Documents' type which will show GST Applicability as 'Debit Note' in the transaction.
- To the Unregistered Vendor
As per the GST rules, if you are returning goods to an unregistered vendor, you need to issue a credit note on behalf of the unregistered party. For doing this transaction, you will need to select the numbering scheme: GST (Reverse Credit Note) which you will find post patch update. In case you want some modification in the numbering scheme, you can create a new numbering scheme of 'GST - Credit Note' type and tag to the 'Purchase Return' menu. Note: If you create a new one, please mark the existing one extinct.
Sales Return:
There can be two ways to accept the goods from a customer, i.e., either by considering it as an inward transaction or by issuing a 'Credit Note'. In Ginesys post GST release, only the first option was available, i.e., considering as an inward transaction but we received various feedback that instead of considering as an inward transaction (as it increases the input), they want to decrease the input itself, i.e., issuing a credit note.
For issuing a Credit Note, you will need to select numbering scheme of 'GST - Credit Note' type which will show GST Applicability as 'Credit Note' in the transaction.
For accepting as an inward transaction, you will need to select numbering scheme of 'Other Documents' type which will show GST Applicability as 'Inward Supply' in the transaction.
| Note |
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| title | Sales Return Credit Note is for Unmanaged Sites only |
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Currently, we have released credit note for unamanged sites only. But we are still working on the credit note part for return from managed franchise. We expect the same to be released soon. |
GST Return Processing:
| Transaction | Type | Return Head |
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| Sales Return | Inward transaction | GSTR2 - B2B |
| Sales Return | Credit Note | GSTR1 - CDN |
| Purchase Return | Tax Invoice / Outward Supply | GSTR1 - B2B |
| Purchase Return | Debit Note | GSTR2 - B2B |
| Purchase Return | Reverse Credit Note | GSTR2 - B2BUR |
Document Reports:
We have updated generic GST document reports of both Purchase Return & Sales Return to show respective captions for entry no. as per numbering scheme selected/transaction done.
For any further information, please do watch the video attached to this page - on the top.
