Query related to credit note

This query is : Resolved

Kartik Kumar Jha (Querist)
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14 June 2019 Dear Experts,
Pls suggest me

I've raised a bill of Rs. 74859+13474.62(IGST) = 88333.62
later i found that Rs. 74859 is the Total Inv. Value including GST i.e (Rs.63439.83 + 11419.16)
Means I've wrongly charged GST on Rs.74859/- and filed my GSTR-1 and paid the liability of the same
Can I raise the credit note of Rs.13474.62(IGST) only of tax Amount.
If yes, Is it need to report in GSTR-1 as I'm raising credit note of only tax amt. ?????

CA Anita Bhadra

CA Anita Bhadra (Expert)
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15 June 2019 Yes ,
You need to raise credit note and report on GSTR 1 also as your invoice value and tax thereon ( 74859 + 13474) is wrongly entered in GSTR 1

Kartik Kumar Jha

Kartik Kumar Jha (Querist)
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15 June 2019 Thank You,
But
If i need to raise credit note than what will be the Taxable Value of the same because Rs.13474/- is the amount of IGST ????

CA Anita Bhadra

CA Anita Bhadra (Expert)
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15 June 2019 In my view , your taxable value & GST thereon was wrongly entered in GSTR 1

Entered ( 74850+13474 ) where Taxable Value entered Rs 74859 & Tax thereon Rs 13474 , whilst correct amount should be ( 63439+11419) respectively

Credit Note to be issued for difference - Rs ( 11420+2055) . Taxable Value Rs 11420 and GST thereon is Rs 2055

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