Summary
Currently user is not allowed to post credit note/Debit note against posted export Invoice. With release of this feature user will be allowed to post credit note against export order similar to normal sales order.
As per proposed new GSTR return ANX-1 inserted information related to Credit and Debit note issue against Export order.
In case Credit/Debit note posted against export order for which "Shipping bill " has already been posted.
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Credit note will display "Shipping Bill Number" and Shipping bill date.
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Debit note will display “Shipping Bill Number” and Shipping bill date.
In the Credit/Debit note for Tax document under header > setup >New field shipping bill number and shipping bill date has been added and posting these information will default from posted export invoice.
Export order can be posted with two option:
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Export with Payment of Tax
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Export without payment of Tax
If Credit note/Debit note is posted against Export Invoice same option will display in Credit/Debit Note .
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If Export order is posted with Payment of tax than credit note automatically default “With payment of Tax" - Yes
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If export order is posted without payment of tax than credit note automatically default "With payment of Tax " - No
If Credit note/Debit note is posted against Export order posted with payment of tax option following additional option enabled for selection: -
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Would you claim refund – Yes/No.
On creation of Credit note against posted export order same option will display in Credit/Debit Note.
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Modes of transaction available to post Credit/Debit note against export order:
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Credit/Debit note through Export order > Invoice.
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Free Text Invoice with Negative value
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Credit /Debit note through General Journal.
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Symptoms
None
Cause
None
Setup
Steps to do setup Credit/Debit Note against Export Invoice:
Enable feature through General Ledger parameter:
General ledger >Setup>General ledger Parameters> Sales tax
In order to enable credit note against export order user have to mark parameter
(India) Enable Credit/debit note against export Invoice
Number sequence under GST reference number sequence group
To maintain GST transaction ID for Credit, note against export invoice separate option is provided under GST reference number sequence group.
General Ledger >Setup>GST reference number sequence group
Posting of Transaction:
Posting Credit note with payment GST using Export Sales order (Would you claim Refund – Yes)
When post credit note against posted export Invoice in the tax information form following fields will default from the posted export Invoice:
With Payment of Tax - Y/N
If with payment of tax - Y
Below field should be displayed
Would you claim refund?
If in the posted export invoice, it was selected as "Yes" it will default as Yes in credit note
Else it will default as "No".
With reference to above Scenario, create a credit note for the 5 Quantities of the item.
Export order line
Other fields in original posted Export order:
With payment of tax - Y
Would you claim Refund - Y
Export Invoice is posted as below.
Cost of Item 4,000
IGST calculation:
Voucher transaction:
When Credit note is posted against posted export invoice:
Would you claim Refund - Y
When export
order is posted with below option marked:
With payment of tax - Y
Export Invoice will be posted as below:
Voucher transaction:
When Credit
note is posted against posted export invoice:
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Export Invoice Credit Note > Tax Document > Header >Shipping bill Number and Shipping bill date
Go to Tax>>Inquiries and reports>>Tax reports>>ANX-1 Report.
We observe that Credit note posted against export Invoice displayed in the report:
New GSTR -1
ANX-1 Report:
More information
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