What should we do, we have charge wrong tax rate in invoice 12%, which is suppose to be charge 5 %
3 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 16 July 2018
| Originally posted by : ashish | ||
 |
What should we do, we have charge wrong tax rate in invoice 12%, which is suppose to be charge 5 % |  |
You may issue a credit note for the difference as the tax charged in the invoice exceeds the tax payable on the supply.
Subramanya
(Tax Consultant)
(526 Points)
Replied 16 July 2018
Mr. Deepak Gupta is correct.
To elaborate,
Correct the entry in Books as per GSTR 1 information (incorrect information submitted).
Additionally, in subsequent return period,
In GSTR 1, include the difference amount as credit note, so that, both Sales and Credit note transaction will be correct
Now, correct your net amount in GSTR 3B of subsequent period
Recent Topics
- Landlord approval for 26QC correction
- IGST ITC on Import shipment landed on other state
- ITR-2 filing issues
- ITR 3 NOT UPLOADING .Tried number of times
- IT Exemptions on Gratuity + Severance Pay + Leave
- Treatment of STCL and STCG under ITR-2 (New Regime
- Challan Sl number starting zero not getting saved
- AY25-26 ITR2 Excel utility
- Validity of Supplementary Reports and Scrutinizer'
- 80 D Health insurance deduction
Related Threads
Trending Online Classes
CAclubindia
