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Credit note

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David

article Assistant

470 Points Posted on 21 June 2020

Assume actual invoice value is 1000 and tax 180.
By mistake GSTR 1 filed as invoice value as 10000 and tax 180.
can I issue credit note for invoice value 9000 and tax 0.? Or is it rectifiable only in annual return?

Replies (6)

Quick Summary

A user mistakenly filed an invoice with a taxable value of 10,000 and tax of 180 in GSTR 1, when the actual invoice was for 1,000 with 180 tax. They are asking if they can issue a credit note for 9,000 with 0 tax, or if this requires an annual return amendment. The consensus is that amending the invoice in the next GSTR 1 filing is the best approach, as directly issuing a credit note for a nil tax amount might not be permitted by the portal.

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 21 June 2020

Don't worry...😊

You can amend the invoice in Your next GSTR 1 return...

Be happy...😃

David

article Assistant

470 Points Posted on 21 June 2020

@ Raja Sir, 😀😊😊

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 21 June 2020

@ Mr David...😀

As per query my reply is the solution....

Note : If You are enter the values as 10k & 18% tax then Tax value will 1800. It's not taken into 180...

David

article Assistant

470 Points Posted on 21 June 2020

I convey that tax amount is same.. Only taxable value is different.. Assume 9000 shown at nil rate.

Pankaj Rawat

GST Practitioner

29904 Points Posted on 21 June 2020

It's better to Amend the Invoice.

I agree with Mr. Raja Ji , but as per your query you have reported taxable Amount Rs. 1000/- & the Tax amount which is 180 ( auto calculated ) but have wrongly report the Gross Amount Rs . 10000/- . so In my view you have entered the taxable amount & tax amount correctly

So in this case yes the credit note can be issue for 9000/-, but the portal will not allow you to enter the credit note without taxable amount & Tax amount therein.

So it's better to amend the invoice.