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Credit note

David (article Assistant) (1639 Points)

21 June 2020

Assume actual invoice value is 1000 and tax 180.
By mistake GSTR 1 filed as invoice value as 10000 and tax 180.
can I issue credit note for invoice value 9000 and tax 0.? Or is it rectifiable only in annual return?

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6 Replies

RAJA P M ("Do the Right Thing...!!!") (127630 Points)
Replied 21 June 2020

Don't worry...😊

You can amend the invoice in Your next GSTR 1 return...

Be happy...😃

2 Like

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David (article Assistant) (1639 Points)
Replied 21 June 2020

@ Raja Sir, 😀😊😊

2 Like

RAJA P M ("Do the Right Thing...!!!") (127630 Points)
Replied 21 June 2020

@ Mr David...😀

As per query my reply is the solution....

Note : If You are enter the values as 10k & 18% tax then Tax value will 1800. It's not taken into 180...

1 Like

David (article Assistant) (1639 Points)
Replied 21 June 2020

I convey that tax amount is same.. Only taxable value is different.. Assume 9000 shown at nil rate.

2 Like

Pankaj Rawat (GST Practitioner) (55042 Points)
Replied 21 June 2020

It's better to Amend the Invoice.

I agree with Mr. Raja Ji , but as per your query you have reported taxable Amount Rs. 1000/- & the Tax amount which is 180 ( auto calculated ) but have wrongly report the Gross Amount Rs . 10000/- . so In my view you have entered the taxable amount & tax amount correctly

So in this case yes the credit note can be issue for 9000/-, but the portal will not allow you to enter the credit note without taxable amount & Tax amount therein.

So it's better to amend the invoice.