Credit Invoice on Taxable supply of GST
Tuesday, December 20, 2016     Category : GST

 

How to issue Credit Invoice under GST in India?

 

 

This post explains about preparation of Credit Note under GST Law of India.


Issuing supplementary invoice is common in business. Let the supplementary invoice be a Debit Invoice or Credit invoice to previously issued invoice.


When is a Credit Invoice issued?


Credit Invoice on Taxable supply of GSTIf an original invoice issued previously has to be revised by reducing the value of sale transaction, as per accounting methods, a credit note (credit invoice) is issued against the amount of difference between actual value and the value of previously issued invoice.


However, if GST Tax invoice issued and already accounted with GST e-ledger, if credit invoice is issued, such details can be uploaded later within a prescribed period.


As per GST Law, every registered taxable 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 tax invoices 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:


Provided that the registered taxable person may issue a consolidated revised tax invoice in respect of all taxable supplies made to a recipient who is not registered under the Act during such period:


Provided further that in case of inter-State supplies, where the value of a supply does not exceed two hundred and fifty thousand rupees, a consolidated revised invoice may be issued separately in respect of all recipients located in a State, who are not registered under the Act.

 

 

The above information explains on how to prepare a Credit Invoice as per GST Law of India. 

Comment below your views about this post on preparation of Credit Invoice under GST Law in India.

Related Information links:

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How to prepare Bill of Supply under GST?

How to prepare a Supplementary tax invoice?

Can a Tax Invoice be revised under GST Law?

Input Service Distributor’s GST Invoice

GST Invoice of Financial institutions

GST Invoice of a Transport Company

GST Tax Invoice of a Passenger Transporter

Application for registration under GST Act to obtain GSTIN
GST registration and returns filing procedures for PSUs and Government entities
Re-registration of GST, Goods and Service Tax.
Cancellation of registration of GST
All about registration of GST in India, FAQ
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