Revised Tax Invoice under GST

by Anil T. Consultant

After revising the tax invoice under GST, the supplier ought to keep the schema and standard according to the GST rules. While giving the invoice for the goods or/and services, the supplier may require to revise or alter the invoice for different reasons. In such cases, the supplier will keep the standards mentioned in the GST Act when revising an invoice. In this article, let us take a gander at the methodology for revising a GST invoice.

GST Revised Invoice Format

All revised tax invoices under GST must contain the accompanying points:

(i) "REVISED INVOICE", shall be explicitly mentioned on the invoice.

(ii) Name, address and GSTIN of the Supplier;

(iii) Document type;

(iv) Invoice number not surpassing 16 characters, in one or numerous arrangement, containing letters or numerals or special characters and any blend thereof, special for a financial year;

(v) Date of issue of the invoice;

(vi) Name, address and GSTIN or UIN, whenever enrolled, of the recipient;

(vii) Name and address of the recipient and the location of delivery. The details will likewise incorporate the name of the State and its code. (for the unregistered recipient);

(viii) Sequential number and date of the tax invoice.

(ix) Taxable supply of goods or/and services, tax rate, and the measure of the tax credited or. It applies whenever charged to the recipient;

(x) A digital signature certificate of the supplier.

Supplementary Invoice

As per the GST Act, when a tax invoice has been issued for supply of any goods or/and services and the taxable worth or tax charged in that tax invoice is less than the tax payable for the supply, at that point, the taxpayer can issue a debit note. In GST, the word debit note incorporates a supplementary invoice.

The details of the debit note or supplementary invoice issued in such conditions should then be included in return for the month during which such debit note has been issued, and the tax liability should be balanced as per the rules.

Frequently Asked Questions (FAQs)

Q1. By what time do I need to issue a supplementary invoice?

Ans. The first invoice must be revised or amended within a time frame of one month from the issuance date of the invoice.

Q2. What is the time frame to update the GST Returns for the supplementary invoice issued?

Ans. Every supplementary invoice must be updated compulsorily on the GSTN gateway through monthly or quarterly returns. Where the supply of goods or/and services is between two different states and the taxable value is less than 2,50,000 INR.

Q3. What are the circumstances wherein a supplementary invoice must be raised?

Ans. Here is the list of circumstances wherein the supplementary invoice must be raised:

(i) Where the recipient rejects the product due to their mediocre quality.

(ii) Where there is a change in the tax rate of goods or/and services supplied.

(iii) Where the taxable estimation of the products or services has changed.

(iv) Where there is a short receipt of goods by the recipient.

(v) Where the refund is charged by the recipient from the supplier.