17 March 2020
Dear Professionals During financial year 2018-2019 from August 2018 onwards we raised some invoices for Plastic Parts of AC on which GST tax rate 18% was levied less than what was required (28%)to be charged. Now we want to raise Debit notes for deficient tax liability arises due to shortfall in rate of tax charged in that financial year.
Please provide your suggestions on below mentioned questions alongwith support of provision of Law.
1. Please suggest can we raise Debit notes in the current financial year:- a) For supplies made from August 2018 to March 2019? b) For supplies made from April 2019 to till date?
2. Also please suggest would our customer be eligible to take ITC on these Debit notes which will be issued for supplies made in financial year 2018-2019?
17 March 2020
1. You can raise debit notes for the supplies made in either period. 2. Your customer will be eligible to take ITC on the debit notes issued by you.
CAclubindia
