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my_bookkeeper
Level 2

Time limit for issue of credit note

Hello Team

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.

 

Best regards,

CA SK Bhat

4 Comments 4
svaishnavi
Moderator

Time limit for issue of credit note

Hello,

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.

 

We would advise that product-specific feedback be provided via the feedback widget within the Gear icon in QuickBooks. This way, your valuable feedback goes directly to the Product Development Team and reduces the turnover time in further improving your experience with QuickBooks.

 

Have a great day ahead!

 

my_bookkeeper
Level 2

Time limit for issue of credit note

Hi,

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?

my_bookkeeper
Level 2

Time limit for issue of credit note

Guys any update? Why cannot we issue credit notes for Invoices which are above 90 days.

Legally it is allowed. Why you guys are stopping it?!!

IntuitArun
QuickBooks Team

Time limit for issue of credit note

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