What is a revised invoice under GST?

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What is a revised invoice under GST? A supplementary invoice is issued by a registered taxable person to resolve a difference between an original and a revised invoice. The supplementary invoice will be either higher or lower in value and is subject to the same GST rules as the original invoice. It must have certain mandatory details, such as the taxable value of the goods or services. The revised invoice can be issued before GST registration is complete. However, a supplementary invoice issued after registration should comply with the GST time limit.

 

There are three main types of revisions under GST. Upward revisions occur through a credit note, downward revisions occur via a supplementary invoice, and downward revisions occur via a debit note. A revision can be done on an invoice due to a change in the GST rate, or it can be due to a change in the original price. In either case, the revised invoice should include the correct information.

 

The notification is accompanied by the prescribed form of reply. You can upload the reply online on the GST portal. You can use your digital signature or e-signature. Make sure to pay the tax liability and any interest liabilities you owe. Once your application is approved, you can check the status of your GST registration online. You will need to enter the response in the reply field.

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