GSTR-1. B2B invoice addition

[Nikhil Oltikar]

Can the Total invoice value of the B2B invoice in GSTR-1 be lesser than the taxable value of the invoice?

[YAGAY and SUN]

In our view it cannot be.

[KASTURI SETHI]

I concur with the views of M/s.YAGAY and SUN, Sirs. Total invoice value includes the element of tax also. Moreover, invoice value includes the value of exempt/nil/zero rated also. Hence total invoice value cannot be less than taxable value. Suppose, if it is less, something must be wrong in many aspects.

AI Summary

Total invoice value cannot be lower than taxable value; mismatch indicates invoice or GSTR 1 reporting error. Whether the Total invoice value reported in GSTR 1 may be lower than the taxable value for a B2B invoice. The advisers state that the total invoice value cannot be less than the taxable value because it includes tax elements and values of exempt, nil rated or zero rated supplies; a lower total therefore signals an error in invoice preparation or return reporting.