Goods and Services Tax – Started By: – Vasudevan Durairaj – Dated:- 6-3-2018 Last Replied Date:- 9-3-2018 – Can anyone explain that how the differential effect will fall on liability when amending an invoice GST value ( by changing rate of GST) Say for example. An invoice of Oct-17 has been charged with 28% wrongly instead of 18%, In Jan 18 ,I have given a credit note to the customer for the GST value difference How can I show this in GSTR 1 .. Can it be shown in B2B amendments…? Will it be ok at par with GSTR 3B Jan 18 in which I had taken only tax effect and not on taxable value since the difference is only on rate of GST.. Can anyone explain the practicality on this matter…?? – Reply By Rajagopalan Ranganathan – The Reply = Sir, Sec
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during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in such manner as may be prescribed: Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person. I hope the above provisions will clear your doubt. In my opinion the above provisions will apply only in B2B transactions. If you supply to C he will not bother about the correctness of the duty rate for the reason his accounts are not going to be audited by the Depart
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