GSTR-1 Invoice Update
This query is : Resolved
23 October 2019
Hi,
My question is
Example Invoice:
Taxable Invoice : 1000
+ GST : 50
= Total value: 1050
+ Transaportation Cost : 50
= Invoice Value : 1100
Transportation cost not included GST
What should i enter in Taxable Value and Invoice Value in GSTR-1
My question is
Example Invoice:
Taxable Invoice : 1000
+ GST : 50
= Total value: 1050
+ Transaportation Cost : 50
= Invoice Value : 1100
Transportation cost not included GST
What should i enter in Taxable Value and Invoice Value in GSTR-1
25 October 2019
The taxable value should include forwarding charges also . That is basic price - 1000 plus transportation charges Rs.50 and GST to be charged for Rs.1050 and not for Rs.1000/-.
26 October 2019
WHAT IF SIR IF I SHOW FRIGHT CHARGES AS DISCOUNT OR ROUND OFF ?
27 July 2024
When filing GSTR-1, you need to accurately report the taxable value and GST for your invoices. Here's how to handle the scenario where transportation costs are not included in the GST:
### **Example Invoice Breakdown:**
- **Taxable Value:** 1000
- **GST (5%):** 50
- **Total Value (including GST):** 1050
- **Transportation Cost (not subject to GST):** 50
- **Invoice Value:** 1100
### **Reporting in GSTR-1:**
1. **Taxable Value and GST Reporting:**
- **Taxable Value**: Report the value of the goods or services that are subject to GST. This would be **1000** in your case.
- **GST**: Report the GST amount separately. In your example, it’s **50**.
**For GSTR-1 reporting:**
- **Taxable Value**: **1000**
- **GST**: **50**
2. **Transportation Cost:**
- Since the transportation cost is not included in the GST and is a separate charge, you should report the transportation cost separately, but it will not be included in the taxable value or GST in GSTR-1.
- **Transportation Cost**: This should not be included in the taxable value or GST. It will be part of the total invoice value but not reported for GST purposes.
3. **Invoice Value in GSTR-1:**
- **Invoice Value**: When entering the invoice value in GSTR-1, you should only include the taxable value plus GST. The transportation cost is added separately and should be shown outside the GST reporting.
**In GSTR-1, you should not include the transportation cost in taxable value or GST reporting.**
### **Handling Freight Charges as Discount or Round Off:**
1. **Freight Charges as Discount:**
- **Discount Treatment**: If you show the freight charges as a discount, you need to ensure that this does not affect the taxable value of the supply. Discounts are generally deducted from the taxable value of the goods/services. However, the transportation cost itself is typically not a discount but an additional charge.
**In GSTR-1:**
- Report the taxable value before discount (if any), and ensure freight charges are shown appropriately if considered part of the taxable supply.
2. **Freight Charges as Round Off:**
- **Round Off Treatment**: If the transportation cost is rounded off as part of the invoice total, it still should be clearly separated from the taxable value for GST reporting purposes.
**In GSTR-1:**
- Only report the taxable value and GST. Round off should not affect how you report GST. The round-off should align with the total invoice amount but is not part of taxable value or GST calculation.
### **Summary for GSTR-1 Reporting:**
- **Taxable Value:** 1000
- **GST:** 50
- **Transportation Cost:** 50 (this is not reported in GSTR-1 but is included in the total invoice value)
The total invoice amount of **1100** (including transportation) is for your internal records and not directly reported in GSTR-1.
By ensuring accurate reporting of taxable value and GST, and properly managing transportation costs, you comply with GST regulations and maintain clear and correct records for both GST filing and financial accounting.
### **Example Invoice Breakdown:**
- **Taxable Value:** 1000
- **GST (5%):** 50
- **Total Value (including GST):** 1050
- **Transportation Cost (not subject to GST):** 50
- **Invoice Value:** 1100
### **Reporting in GSTR-1:**
1. **Taxable Value and GST Reporting:**
- **Taxable Value**: Report the value of the goods or services that are subject to GST. This would be **1000** in your case.
- **GST**: Report the GST amount separately. In your example, it’s **50**.
**For GSTR-1 reporting:**
- **Taxable Value**: **1000**
- **GST**: **50**
2. **Transportation Cost:**
- Since the transportation cost is not included in the GST and is a separate charge, you should report the transportation cost separately, but it will not be included in the taxable value or GST in GSTR-1.
- **Transportation Cost**: This should not be included in the taxable value or GST. It will be part of the total invoice value but not reported for GST purposes.
3. **Invoice Value in GSTR-1:**
- **Invoice Value**: When entering the invoice value in GSTR-1, you should only include the taxable value plus GST. The transportation cost is added separately and should be shown outside the GST reporting.
**In GSTR-1, you should not include the transportation cost in taxable value or GST reporting.**
### **Handling Freight Charges as Discount or Round Off:**
1. **Freight Charges as Discount:**
- **Discount Treatment**: If you show the freight charges as a discount, you need to ensure that this does not affect the taxable value of the supply. Discounts are generally deducted from the taxable value of the goods/services. However, the transportation cost itself is typically not a discount but an additional charge.
**In GSTR-1:**
- Report the taxable value before discount (if any), and ensure freight charges are shown appropriately if considered part of the taxable supply.
2. **Freight Charges as Round Off:**
- **Round Off Treatment**: If the transportation cost is rounded off as part of the invoice total, it still should be clearly separated from the taxable value for GST reporting purposes.
**In GSTR-1:**
- Only report the taxable value and GST. Round off should not affect how you report GST. The round-off should align with the total invoice amount but is not part of taxable value or GST calculation.
### **Summary for GSTR-1 Reporting:**
- **Taxable Value:** 1000
- **GST:** 50
- **Transportation Cost:** 50 (this is not reported in GSTR-1 but is included in the total invoice value)
The total invoice amount of **1100** (including transportation) is for your internal records and not directly reported in GSTR-1.
By ensuring accurate reporting of taxable value and GST, and properly managing transportation costs, you comply with GST regulations and maintain clear and correct records for both GST filing and financial accounting.
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