Matching of gstr1/gstr3b and e way bill

Return 1169 views 5 replies

Sridevi

Accountant

380 Points Joined January 2013

Hi All,

Can anyone explain the reconciliation between E Way Bill and GSTR1/GSTR3B. Because, we have raised an Invoice for export purpose by sea on 29/04/2018 and the shipment is at the port. Now, the consignee has asked us to send the shipment by Air and there will be huge difference in the Invoice value.

One more point is that the products will not come back to our godown. It will be sent by Air directly without coming back. So, now how to cancel the previous Invoice as we have made EWay Bill and raise a new Invoice. Reply very urgent.

Regards

Sridevi

Replies (5)

Dayananda Kakade

Deputy Manager -Finance

328 Points Joined September 2017

Better to handle through Debit note option. Raise a deibt note for differential amount as price difference.

Sridevi

Accountant

380 Points Joined January 2013

One more doubt is if we raise debit note, how does the consignee pay the custom duty and clear the shipment and make TT transfer- There`s a continous link which is not able to solve.

Dayananda Kakade

Deputy Manager -Finance

328 Points Joined September 2017

Duty can be paid on debit note also. It can always be informed to customs authority and pay the necessary duty if the reasons are valid. So debit note is best option.

Sridevi

Accountant

380 Points Joined January 2013

Ok will try, One more doubt is do the GST Authorities also check Eway bill with Invoice during Audit? Because, we do Invoice in Dollars but account in Tally the value as in Shipping Bills.

But, the problem is that we will generate way bill first taking approximate currency conversion and the value in shipping bill will be different. So, what will be the best procedure to follow.

Dayananda Kakade

Deputy Manager -Finance

328 Points Joined September 2017

Difference in INR should not be problem as long as your dollar values are matched. Because in shipping bill INR value will be based on exchage rate applicable on day of filing shipping based on exchange rate notification. This will lead to difference in most of the cases between INR value accounted and shipping bill value.