I see that there is time limit set of 90 days for issue of credit note. Why is this time limit set in place?
Whereas GST rules allows me to issue credit notes till Sep of next financial year.
Due to this restriction we are not able to raise a credit note for an invoice which was raised 90 days prior.
Seeking your urgent response.
CA SK Bhat
Welcome to QuickBooks Community!
Here's everything you need to know about the 90-day limit set on the issue of credit notes in GSTR-1.
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I have gone through the link.
But it does not tell why 90 day limit is set?
The GST law allows to issue credit note till Sep of next financial year, so why Quickbooks is setting a shorter limit of 90 days?
Hi. thanks for reaching out. Customers will be able to link credit notes to invoices that are dated up to 21 months from the date of the credit note. Please share your email address through direct message. We will share the details through email