Mackie (Entrepreneur ) (290 Points)
20 July 2021Hello , We calculated wrong percentage and charged less to one of our clients and raised the invoice last month. As per the Agreement the percentage charged should be more. We have already filed GSTR1 and 3B this month.
Is there a way to correct the invoice and charge the right amount now? If yes, is there a time limit within this correction can be made?
Thanks
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 20 July 2021
Mackie
(Entrepreneur )
(290 Points)
Replied 20 July 2021
| Originally posted by : Sourav | ||
 |
You can revise such defect in next return |  |
thnks for the reply Sourav but I wanted to know how do we claim the balance amount from the client now? Will it b through a debit note or credit note? Do we need to issue a revised invoice? I also read somewhere about the concept of Supplementary invoice. How do I just claim the difference amount with the client?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 20 July 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 20 July 2021
Mackie
(Entrepreneur )
(290 Points)
Replied 20 July 2021
| Originally posted by : CMA Poornima Madhava | ||
|
Yes, you may raise a new invoice for the difference amount of tax and include this transaction in the returns for the subsequent tax period. | |
Thanks Poornima! Can I also raise a revised invoice with the details of earlier invoice mentioned and with all the calculations including amount charged minus actual amount and then charge the difference amount with gst? would this b called revised invoice or a supplementary invoice?
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 20 July 2021
Mackie
(Entrepreneur )
(290 Points)
Replied 20 July 2021
| Originally posted by : CMA Poornima Madhava | ||
|
You may mention just the difference of tax and this would be a supplementary invoice or debit note. | |
One more query: While filing gstr1 next month, where do I mention details of this supplementary invoice? Under normal outward supplies or under debit notes?
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 20 July 2021
Mackie
(Entrepreneur )
(290 Points)
Replied 21 July 2021
| Originally posted by : Pankaj Rawat | ||
|
Need to report under debit Note Section. Note : you can even amend that invoice in your subsequent return in GSTR 1, the increase tax liability will automatically get reflected in GSTR 3B also. | |
thanks for the guidance pankaj. Read about the amendment part. So basically I can raise the invoice with the same invoice number but with correct amount to the client and while filing GSTR1 next month can edit the invoice under amend B2B invoice and pay the additional tax. Hope I understood you right.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 July 2021
Mackie
(Entrepreneur )
(290 Points)
Replied 21 July 2021
| Originally posted by : Pankaj Rawat | ||
|
Yes correct. Note : But kindly check that No Eway has been generated for that invoice earlier. Else need to issue debit note only. | |
Sorry but how do I check about eway generation? From the accounts team of our client? Sorry not aware of eway and how it works.
CAclubindia
