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Credit Notes

02 March 2019

I am a service provider. I have raised invoice against the service which i have rendered on 14.03.2018. But by mistake i have shown more tax value than the invoice in gstr 1. Accordingly i have issued credit note for the difference value on 12.09.2018. And incorporate this credit note in gstr 1 return of December month 2018. Is this correct to regularise my mistake? if no then plz guide how to correct

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4 Replies

Dharam (CA FINAL) (164 Points)
Replied 03 March 2019

did raised invoice with correct value?.... u only wronly shown excess taxable vaule in gstr 1?

if yes then in my view u must ammend the invoce .. instead of credit note raised

becz if ur invoice is correct and u raised credit note then ur ledger will not match with service receiver ledger

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Sujan Das (43 Points)
Replied 03 March 2019

first thhanks. for the reply. my invoice was correct... mistake done in gstr 1. can i amend gstr 1 of fy 2017-18 now?? if yes then shall it reduces my present tax liability