Gst invoice value ?

This query is : Resolved

dharmender (Querist)
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27 February 2018 Hi.. Experts, -Its Urgent
X company is Stock Broker ( Share Trading Company ) , Company raised bill as below
1. Brokerage Rs. 1000 (taxable)
2. Transaction Charges Rs. 50 (Taxable according to SEBI Rule )
3. Stamp Duty Rs. 200 ( Not taxable according to SEBI Rule)
4. CTT Rs. 250 ( --------------do-------------------------)
SGST and CGST on Rs. 1050 /- @18% = 189
TOTAL Invoice Value = 1689 /-

My question is that while entering in GSTR-1 should I enter Total Invoice value as Rs. 1689 /- or Only Rs. 1239 ( 1000+50+189).

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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27 February 2018 Invoice value is total value Billed i.e Rs
1689/- in taxable value you. IGST 18% Rs
1050/ IGST Rs.189/-

dharmender

dharmender (Querist)
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28 February 2018 Hi....
Bill no 1. to Register Person
Suppose Taxable value Rs.1000 /-
IGST Rs. 180 /-
Invoice Value Rs. 1500 /-

Bill No2 Unregister
Taxable Value Rs. 500
IGST Rs. 90
Invoice Value 700 /- (Say)

My Question is that if we enter in GSTR-1 for Bill No. 1 in 4A , 4B (B2B) table of GST its show summary as
Total Value Rs.1500 /-(Invoice value) , Total Taxable Value as Rs. 1000 /- and Total Tax Liability as Rs. 180
and in table 7-B2C
only Total taxable value as Rs .500 and Tax Liability as Rs. 90. ( Here we will not enter Invoice value)

While entering in HSN Summary wise table we enter as
Total Value Rs.2200 Total Taxable Value .Rs. 1500 Total Tax Liability as Rs. 270

Then there will mismatch of Invoice value ( if we add B2B and B2C) with the HSN summary.

ie 1500 /-(B2B) + 590 (500+90 - B2C) = 2090

Difference is Rs. 2200 - 2090 = 110

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dharmender

dharmender (Querist)
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01 March 2018 Hi ...Please tell me what to do for the above difference.

Asha Kanta Sharma online

Asha Kanta Sharma

(Expert)
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26 July 2024 When entering invoices in GSTR-1 and reconciling with the HSN summary, it is crucial to understand how to report different components of the invoice to avoid discrepancies. Let’s break down how to handle each type of entry and how to ensure consistency in reporting.

### Breakdown of the Invoice and Reporting

#### 1. **Invoice Details and Reporting in GSTR-1**

**For Bill No. 1 (B2B Registered Person):**

- **Brokerage:** Rs. 1000 (Taxable)
- **Transaction Charges:** Rs. 50 (Taxable)
- **Stamp Duty:** Rs. 200 (Non-taxable, according to SEBI rules)
- **CTT:** Rs. 250 (Non-taxable, according to SEBI rules)
- **SGST and CGST on Taxable Value (Rs. 1050):** 18% = Rs. 189

**Total Invoice Value:** Rs. 1689

**Entry in GSTR-1:**

- **Table 4A (B2B):**
- **Taxable Value:** Rs. 1000 + Rs. 50 = Rs. 1050
- **Total Tax Liability:** Rs. 189 (SGST + CGST)
- **Invoice Value:** Rs. 1689 (including non-taxable charges)

**Important Note:** For B2B transactions, the total invoice value including all components (taxable and non-taxable) is reported in Table 4A. The taxable value and tax liabilities are reported separately.

**For Bill No. 2 (B2C Unregistered Person):**

- **Taxable Value:** Rs. 500
- **IGST:** Rs. 90

**Total Invoice Value:** Rs. 700

**Entry in GSTR-1:**

- **Table 7 (B2C):**
- **Total Taxable Value:** Rs. 500
- **Total Tax Liability:** Rs. 90
- **Invoice Value:** Not separately reported; only taxable value and tax liability are needed.

#### 2. **HSN Summary Reporting**

In the HSN Summary table, you should report the total values for each HSN code, including both taxable and non-taxable components:

- **Total Value:** Rs. 2200 (Total of both invoices)
- **Total Taxable Value:** Rs. 1500 (Sum of taxable values of both invoices)
- **Total Tax Liability:** Rs. 270 (Sum of total tax liabilities of both invoices)

### Reconciling Discrepancies

**Reconciliation Process:**

- **HSN Summary Total Value:** Includes all components (both taxable and non-taxable).
- **Sum of B2B and B2C Invoices:** Includes only taxable values and tax liabilities.

The reconciliation issue arises because the HSN summary includes non-taxable components (such as stamp duty and CTT) which are not reflected in the B2B and B2C tables.

**To Resolve:**

1. **Ensure Accuracy:** Ensure that the HSN summary accurately reflects the total invoice values and that B2B and B2C tables reflect the taxable values and tax liabilities correctly.

2. **Understand Reporting Requirements:** Different tables have different reporting requirements. The HSN summary includes total values including non-taxable amounts, while B2B and B2C tables focus on taxable amounts and tax liability.

3. **Check GST Portal Guidelines:** Refer to the GST portal’s guidelines or help resources for specific instructions on reporting and reconciliation.

### Summary of Key Points:

- **Invoice Values:** Report the total invoice value (including non-taxable components) in the GSTR-1.
- **Taxable Values and Tax Liability:** Report separately in B2B and B2C tables.
- **HSN Summary:** Includes total values and taxable values.

Ensure to verify the reporting as per the latest GST rules and consult with a tax professional if needed to avoid discrepancies.