What is Invoice?
Tax invoice is required to be issued by a registered taxable person showing a description of goods and/or services, value, tax, and other particulars. It is a document evidencing supply of goods and services which becomes the basis for a charge of tax. However, there is a possibility that taxpayer might issue the invoice incorrectly. This results in the need of mechanism for invoice amendment (revised invoice or invoice adjustment) under GST.
Supplier issues Invoice to the recipient who accounts invoice in his books of accounts. If the tax is involved in such sales, the tax is paid on the basis of such invoice issued by the supplier. However, if a Tax Invoice is already issued by the supplier and later if such tax invoice amount or other details are required to be changed, it can either be amended by issuing
- revised invoice; or
- adjusted through debit-credit note
In this article, we will discuss Revised Invoice. There are two cases of revised invoice under GST which are explained below –
1- Invoice Amendment for sales reported in Table 4, 5 and 6
Any kind of amendment made in current tax period to original invoice of outward supplies (GSTR 1) issued in any earlier tax periods in –
- Table 4 – Registered Seller to Registered Buyer
- Table 5 – Registered Seller to Unregistered Buyer (Inter-state greater than Rs. 2.5 Lakhs)
- Table 6 – Export, Deemed Export or sale to SEZ unit/ developer
is required to be furnished in Table 9. Information is to be captured rate-wise.
- While furnishing information of revised invoice or original debit note/credit note, the details of original invoice shall be mentioned in the first three columns; and
- While furnishing information of revised debit note/credit note, the details of original debit note/credit note shall be mentioned in the first three columns.
- Place of Supply (PoS) only if the same is different from the location of the recipient.
- Shipping bill to be provided only in case of exports transactions amendment.
2- Amendments for Consolidated Sales in Table 7
Consolidated Sales (without invoice information) are reported in Table 7 (Taxable supplies to Unregistered buyers) of GSTR 1 on rate-wise and operator-wise (only in case of e-commerce) basis. Accordingly, any kind of amendment made in current tax period to details of outward supplies filed in any earlier tax periods in parts of Table 7
- Table 7A (1) – Gross Intra-State consolidated rate-wise outward supplies [including through e-commerce operator attracting collection of tax at source]
- Table 7A (2) – Supplies made through e-commerce operator attracting collection of tax at source out of gross supplies reported in Table 7A (1)
- Table 7B (1) – Gross Inter-State consolidated rate-wise outward supplies [value upto Rs. 2.5 Lakhs]
- Table 7B (2)-Supplies made through e-commerce operator attracting collection of tax at source out of gross supplies reported in Table 7B (1).
is required to be furnished in Table 10. Information is to be captured state-wise and rate-wise.
Special Provisions for Revised Invoice
Every registered person who has been granted registration with effect from a date earlier than the date of issuance of certificate of registration to him, may issue revised invoice in respect of taxable supplies effected during the period starting from the effective date of registration till the date of issuance of certificate of registration.
He may issue a consolidated revised invoice in respect of all taxable supplies made to a recipient who is not registered (does not have GSTIN).
Provided further that in case of Inter-State supplies, where the value of a supply does not exceed Rs 2,50,000, a consolidated revised invoice may be issued separately in respect of all recipients located in a State, who are not registered under the Act.
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