Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

supplementary for retro

C KALYANAKUMAR (Sr.MANAGER - COMMERCIAL) (37 Points)

19 September 2017

we have received price increase / decrease with retro effect. how can we issue and what type of document to issue to our customer. (we have more than 1000 sale invoices), also how to report in GSTR.

Reply
Follow
Share

4 Replies

Dip Narayan (Deputy Manager) (767 Points)
Replied 19 September 2017

where you have charged less GST . You have to raise supplementary invoice/Debit Note against the Original Invoice.

where you have charged excess GST . You have to raise Credit Note.

C KALYANAKUMAR (Sr.MANAGER - COMMERCIAL) (37 Points)
Replied 20 September 2017

tnx sir, but whether we have to match each and every invoice, or can we generate debit note for aggregate value. how to show in GSTR.

Dip Narayan (Deputy Manager) (767 Points)
Replied 21 September 2017

Debit Note include a supplementary Invoice .Hence it is better to mention the GST INVOICE against which the supplementary invoice.is raised. For Debit /credit note : Any registered person who is raising the Supplementary Invoice in relation to goods or services or both shall declare the details of such debit/credit notes in the return for the month during which such debit notes been issued and the tax liabilities shall be adjusted in such manner as may be prescribed. There is no time limit for debit notes. For Credit Note :The supplier cannot issue a credit note pertaining to a supply of goods or services or both of a particular financial year later than the (i) month of September following the end of the financial year in which such supply was made or (ii) date of furnishing of the relevant annual return . Whichever is earlier

C KALYANAKUMAR (Sr.MANAGER - COMMERCIAL) (37 Points)
Replied 12 January 2018

Sir, could you please give your feedback, for Debit or Credit Note against price increase / decrease in retro effect, whether we have to issue consolidated debit or credit note for the invoices generated during the month period attaching with annexure. Or, we have generate separate debit/credit note for each and every invoice. F.g., In Nov'17 we have issued 500 tax invoices, after that the customer declar the price decrease on 05-12-2017, for the invoices with effect from 01-11-2017. Now, can we generate one consolidated credit note for entire 500 invoices attaching with the detailed statement of 500 invoices Or we have to generate 500 credit notes against 500 invoices, as per GST rules. Please support by your reply.