When does a GST Tax return amount change after filing returns?
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How to resolve the amount of Invoice liability changes after filing GST returns?
The GST Tax return amount is changed in two situations mainly if GST Returns filed if not occurring any mistakes, omission deletion deliberately.
Ok, let us explain the situation where invoice amount of GST returns changes with a small example below:
Generating a Debit Note:
If a supplier sells his commodity to a buyer with a payment terms of 90 days from the date of dispatch. Once after supplying goods to him the seller decides, he has to charge an additional amount, either with the consent of buyer or without. Generally, in account terms it is called additional Debit Note or Invoice against the same Invoice Number. If any such situation arises, the GST tax liability against such transaction also increases. The supplier would have filed his monthly GST return with GST tax payment by then. Here, he is liable to pay GST against the additional debit note amount.
The GST Law provides to amend such changes of debit invoice if the tax payer already submitted his tax return under GSTR1 (Supplier’s GST return). There is separate table in GSTR1 for the purpose of amending previously declared GST tax details.
Generating a Credit Note:
The supplier may reduce invoice value of a particular situation after generating invoice by providing any discount, agrees the request of buyer to reduce price, compensating the loss of buyer on a particular situation or due to any reason. The supplier would have filed his GST tax return by paying GST against previously generated Invoice. Here, the supplier can get credit of GST Tax paid by filing such credit note at later stage.
The GST Law provides to amend such changes of credit note if the tax payer already submitted his tax return under GSTR2 (Recipient’s GST return). There is separate table in GSTR1 for the purpose of amending previously declared GST tax details.
This post explains about the resolving procedures of changes in Invoices of GST tax payer against the GST returns already submitted by amending required details in the next GSTR Forms under specified table. Please share your thoughts about amendment of GSTR1 & GSTR2 below:
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