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Revised Invoice in GST

Tuesday August 29, 2017,

2 min Read

A tax invoice is deemed to include a revised invoice. A revised invoice can be issued, against an invoice already issued in respect of supplies which take place between the effective date of registration and the actual date of issuance of a certificate of registration.

A consolidate revised tax invoice may be issued in respect of all taxable supplies made to registered persons. In case of inter-state supplies, where the value of a supply does not exceed Rs.2,50,000, a consolidated revised invoice may be issued separately in respect of all unregistered recipients located in a State. 

Format of Revised Tax Invoice

1. Supplier's Details

i) Name;

ii) Address;

iii) Goods and Services Tax Identification Number (GSTIN).

2. Recipient's Details:

i) Name;

ii) Address of recipient;

iii) Goods and Services Tax Identification Number or Unique Identity Number (if recipient is registered);

iv) Address of delivery, alongwith State and its code (if recipient is unregistered).

3. Details of Tax Liability:

i) Value of taxable supply;

ii) Rate of tax (CGST, SGST, UTGST or IGST or Compensation Cess);

iii) Amount of tax credited or debited to the recipient.

4. Other Details:

i) The word "Revised Invoice" should be prominently indicated;

ii) Nature of the document;

iii) A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as "-" and "/" respectively, and any combination thereof, unique for a financial year;

iv) Date of issue of the document;

v) Serial number and date of the corresponding tax invoice or, as the case may be, bill of supply;

vi) Signature or digital signature of the supplier or his authorized representative.

A revised tax invoice issued in pursuance of any tax payable in accordance with the provisions of Section 74, 129 or 130 should prominently contain the words "Input tax credit not admissible". Taxmann's is offering a GST Rate Finder tool to find your HSN Code list and SAC Code list and GST rates for all your goods or services mention in your GST invoice. You can easily look up HSN Code/ SAC code of all your goods or services.