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Rate differences


SUMIT BADYAL   21 January 2021

SUMIT BADYAL

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hi, how we enter rate difference entry as a supplier in tally with gst
prasad Nilugal

prasad Nilugal   22 January 2021

prasad Nilugal

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Please elaborate with details or example .
SUMIT BADYAL

SUMIT BADYAL   22 January 2021

SUMIT BADYAL

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The rate difference in the sale invoice
prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     22 January 2021

prasad Nilugal
Sr . Accountant and GST Practitioner .  
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You mean to say ,  earlier  you issued sales  Invoice with more  rate and  then latter on  rate reduced    . please clarify .

SUMIT BADYAL

SUMIT BADYAL   22 January 2021

SUMIT BADYAL

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Right
prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     22 January 2021

prasad Nilugal
Sr . Accountant and GST Practitioner .  
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 Then you have  to issue   Credit  Note giving  reference of  original  Invoice   for difference amount  for rate reduction  as  a supplier  to Customer and show same credit Note   in  Tally ERP 9  ., However credit note  should  be as per section 34 of the CGST act 2017 . . 

prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     22 January 2021

prasad Nilugal
Sr . Accountant and GST Practitioner .  
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I  will give you example  , Suppose  Taxable value shown  earlier  in original  Invoice  is  105  + GST   , now you want  reduce  taxable value 100 +GST  , Credit  Note is to be issued for  Rs 5/ + GST   (105-100)    . 


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