SUPPLEMENTARY TAX INVOICE AND REVISED INVOICE IN GST
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 14-12-2016<\/p>\n
Supplementary Tax Invoice
\nSupplementary tax invoice has not been defined under Model GST law. Supplementary tax invoice has to be issued by taxable person in case where any deficiency is found in a tax invoice already issued by a taxable person. Dictionary meaning of the term 'supplementary' is 'added to complete or make up a deficiency'. Thus, supplementary tax invoice is to be issued where any deficiency is found in a tax invoice issued already to supplement \/ remove such deficiency.
\nDetails required to be shown
\nAccording to Rule 4 of draft GST Invoice Rules, a supplementary tax invoice and \/ o<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n signature or digital signature of the supplier or his authorized representative. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n credit of tax charged in the revised invoice. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" SUPPLEMENTARY TAX INVOICE AND REVISED INVOICE IN GSTBy: – Dr. Sanjiv Agarwal Goods and Services Tax – GSTDated:- 14-12-2016 Supplementary Tax Invoice Supplementary tax invoice has not been defined under Model GST law. Supplementary tax invoice has to be issued by taxable person in case where any deficiency is found in a tax invoice already … Continue reading “SUPPLEMENTARY TAX INVOICE AND REVISED INVOICE IN GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2017","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2017"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2017\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n Input Tax Credit
\nAs per section 16(1) of Model GST law, no registered taxable person shall be entitled to the credit of any input tax in respect of any supply of goods and\/or services to him unless he is in possession of tax invoice, debit note, supplementary invoice or such other taxpaying document as may be prescribed, issued by a supplier registered under the CGST\/SGST or the IGST Act.
\nHowever, a taxable person who has received supplies from a supplier who is paying tax under composition levy scheme or supplying non-taxable goods and\/or services cannot take input tax credit on the basis of a bill of supply.
\nRevised invoice
\n'Revised invoice' h<\/p>\n
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\nThe period covered for issuing of revised invoice is the period starting from the effective date of registration till the date of issuance of certificate of registration. Therefore, a registered taxable person cannot issue a revised invoice against the invoice issued by him after the date of issuance of certificate of registration.
\nDifference between a revised invoice and a supplementary invoice
\nDifference between a revised invoice and a supplementary invoice can be enumerated as follows:
\nParticulars
\nRevised Invoice
\nSupplementary Invoice
\nMeaning
\nRevised invoice may be issued by taxable person in relation to any invoice already issued by him.
\nSupplementary tax invoice has to be issued <\/p>\n
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