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While conducting business, it is common that an invoice under Goods and Services Tax (GST) may have been issued by mistake, or a few invoices may require modifications. In such cases, the invoices need to be rectified and reported in the monthly returns. This process is called the rectification of invoices.
Rectification of tax invoices can occur in several ways, and it can result either in a revised invoice or a supplementary invoice. For example, there can be an upward or downward revision in the prices of goods or services or a change in the GST rate. A downward revision can be done using a credit note, while one can make an upward revision with a supplementary invoice or debit note. However, when a registered person has to issue an invoice for the supplies made before obtaining registration, it is called a ‘revised invoice’.
Under GST, all taxable dealers will have to apply for provisional registration and carry out all the formalities to get a permanent registration certificate. After obtaining the GST registration certificate, the taxpayer will need to issue revised invoices for all the invoices issued between the period of the-
The revised invoice will have to be issued within one month from the date of issue of the registration certificate.
The registered person will have to issue a revised invoice against all invoices already issued between the above said period. The taxpayer should mention the details of the original invoice and issue a revised invoice in the format mentioned below.
The GST law mandates that the details mentioned below are included in a revised invoice:
A supplementary tax invoice is an invoice that a taxable person issues if any deficiency is found in a tax invoice already issued by the said taxable person. A supplementary invoice is also known as a debit note.
A supplementary invoice is used to rectify the deficiency related to the original tax invoice under GST. There can be some situations where the taxable value of the goods or services has been undermined in the original tax invoice, resulting in a lesser tax being charged or other such deficiencies. Hence, an upward revision may be required. In such cases, a supplementary invoice or debit note needs to be issued.
Apart from taking care of such revision, the particulars mentioned mandatorily in the invoice are mentioned in the “Format of Revised Invoice” section.
The difference between a revised invoice and a supplementary invoice can be enumerated as follows:
|Particulars||Revised Invoice||Supplementary Invoice|
|Meaning||A taxable person may issue a revised invoice for an invoice already issued by him before obtaining GST registration.||A taxable person has to issue a supplementary tax invoice in a case where any deficiency is found in a tax invoice already issued by a taxable person.|
|Period covered||The period beginning from the effective date of registration until the issuance of a Certificate of Registration.||Not based on period but invoice specific|
|Issued to whom||To registered persons as well as unregistered persons.||To registered taxable persons as well as unregistered persons.|
For further understanding and formats, read our articles: