DEAR MADAM,
PLEASE SHARE YOUR OPINION RELATED TO THESE
QUERIES. PLEASE QUOTE RELEVANT SECTION IF APPLICABLE.
1. IF AN ASSESSEE WANTS TO CANCEL ITS TAX
INVOICE FOR A MONTH (RETURN OF THAT MONTH ALREADY FILLED). THEN WHAT WILL BE
THE CORRECT PROCEDURE OR METHOD FOR CANCELLATION OF TAX INVOICE.
2. IF AN ASSESSEE WANTS TO SELL ITS USED
CAPITAL ASSET, THEN GST CHARGE ON THAT SUPPLY OR NOT. IS YOUR ANSWER BE DIFFERENT
IF CAPITAL ASSSET IS PURCHASED PRE GST PERIOD OR AFTER GST PERIOD. ALSO HOW I
SHOW THIS SUPPLY IN GSTR3B & GSTR1.
Reply:
Dear Sir,
1) The
reason behind cancellation of invoice has not been mentioned in the query, so
we are assuming that it is a case of sales return. In this case, if the
taxpayer has issued the invoice to the recipient, then the taxpayer should
issue a credit note to the recipient equal to the amount of invoice which is to
be cancelled. Upon acceptance of credit note by the buyer, the value of outward
supply will reduced accordingly. Thus it will depend on the buyer, if he will
accept the credit note issued by the supplier, cancellation of invoice is
become possible.
Whereas,
if the taxpayer has not issued the invoice to the buyer, there is no need to
issue credit note, the only thing you have to do is, do not mention such
invoice in GSTR-1.
2) As per
section 18(6) of CGST Act, 2017 In case of supply of capital goods, on
which input tax credit has been taken, the registered person shall pay an
amount equal to the input tax credit taken on the said capital goods reduced by
such percentage points as may be prescribed or the tax on the transaction value
of such capital goods or plant and machinery determined under section 15,
whichever is higher: (see rule 44 also)