Question26:
My Query is related to Issuance of Credit Note due
to revision of GST Rate. One of my clients have issued few Bills @ 28% GST.
However this rate was reduced to 18% by a Notification. Now we want to raise a
Credit Note for Difference in Tax Charged.
As of now there is no option available at GSTN Portal for uploading these type
of Credit Notes.
Please advise, how the matter is taken care off. Whether Credit Note for whole
of the Bill to be issued first and then Fresh Invoice at new Tax rate to be
raised. or can we raise credit note for diffence amount of tax only.
Answer:
We assumed that your client considered the provision of Section 14 relating to "time of supply in case of change in rate of tax" and after that he concludes that applicable rate on their supply is 18%.
For difference in taxable value or tax charged in the tax invoice their is a specific provision in GST which is reproduced below:-
As per Section 34(1), Where a tax invoice has been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or where the goods supplied are returned by the recipient, or where goods or services or both supplied are found to be deficient, the registered person, who has supplied such goods or services or both, may issue to the recipient a credit note containing such particulars as may be prescribed.
Thus, according to above provision you will issue credit note for the decreased tax amount.
You are also required to declare the details of such credit note in S.no 9B of GSTR-1 for the month during which such credit note has been issued.
But if at the time of filling of return some practical problem are phased then these are to be removed by the helpdesk of GST. So you are requested to submit your problem on Grievance Redressal Portal for GST i.e https://selfservice.gstsystem.in for quick redressal of grievances and keep on sending reminder until the problem is solved
We will not suggest you to use any alternative solution just only to bypass the problem because it will not be a permanent solution. (Reply dt. 05/4/2018)