A GST credit note must be declared in your return by 30 November after the end of the financial year of the original invoice — or by the date you file the annual return for that year, if that is earlier. Miss it, and the credit note can no longer reduce your GST liability.
The rule (Section 34, CGST Act)
A supplier can issue a credit note when:
- the taxable value or tax charged on an invoice was too high,
- goods are returned, or
- services or goods were found deficient.
The time limit is the earlier of:
- 30 November following the end of the financial year in which the supply was made, or
- the date of furnishing the annual return for that year.
The 30 November date replaced the older "September return" deadline after the Finance Act, 2022.
Beautiful GST invoices with your signature and stamp, quotations to credit notes, inventory, UPI collection and 30+ reports.
Start free See the demoDeadlines by financial year
| Original invoice in FY | Declare credit note by |
|---|---|
| 2024-25 | 30 November 2025 (or earlier annual return) |
| 2025-26 | 30 November 2026 (or earlier annual return) |
| 2026-27 | 30 November 2027 (or earlier annual return) |
Example
You invoiced ₹1,00,000 + 18% GST on 15 February 2026 (FY 2025-26). The customer returns 20% of the goods in October 2026.
- Credit note value: ₹20,000 + ₹3,600 GST
- Declare it in GSTR-1 by 30 November 2026
- If you file the FY 2025-26 annual return on 20 November, the deadline becomes 20 November
Common mistakes
- Waiting for the customer's debit note. Your deadline does not move because the buyer is slow.
- Filing the annual return early without clearing pending credit notes. Filing early pulls the deadline forward.
- Mixing up financial and commercial credit notes. After the deadline you can still issue a commercial credit note (for discounts, say) without a GST adjustment.
- Missing the link to the original invoice. A credit note must reference the invoice it adjusts.
What a GST credit note must contain
Name, address and GSTIN of the supplier and recipient, a serial number and date, the original invoice number and date, the taxable value, the tax rate and amount being credited, and the signature of the supplier. The format is covered in credit note under GST.
Practical checklist for October–November
- List all returns, rate corrections and post-sale discounts for last year's invoices.
- Issue and report credit notes before 30 November.
- Only then file the annual return.
MizUp's GST billing links credit notes to the original invoice and flags any that are close to the 30 November cut-off.
Based on Section 34 of the CGST Act, 2017 as amended. General information, not professional advice.
Frequently asked questions
What is the time limit for issuing a credit note under GST?
A credit note must be declared in the GST return not later than 30 November following the end of the financial year in which the original supply was made, or the date of filing the annual return, whichever is earlier.
What is the last date for credit notes on FY 2025-26 invoices?
30 November 2026, unless the annual return for FY 2025-26 is filed earlier, in which case that earlier date applies.
What happens if I miss the deadline?
You cannot reduce your output tax liability through that credit note. A commercial credit note without GST adjustment can still be issued.
Which section covers credit notes?
Section 34 of the CGST Act, 2017. The 30 November date applies after the amendment made by the Finance Act, 2022.
