TaxTMI 
TaxTMI 
Dear Sir,
Please specify that CGST AND SGST OUTPUT OR INPUT will charged in rate diffrance credit note. When I am a seller.
DEBIT AND CREDIT NOTE
07 Aug 2019 
5 Replies 
2186 Views Asked by
Post-supply rate difference: GST must be charged and supplier issues supplementary invoice; credit notes reduce supplier output tax.
Where a supplier recovers a post supply differential amount, GST must be charged and documented by a supplementary invoice or debit note. A supplier's credit note reduces the supplier's output tax liability and does not automatically change the buyer's input tax credit. Post supply payments labeled as rate differences or special discounts do not qualify to reduce the transaction value and therefore require applicable GST to be charged. (AI Summary)
Where a supplier recovers a post supply differential amount, GST must be charged and documented by a supplementary invoice or debit note. A supplier's credit note reduces the supplier's output tax liability and does not automatically change the buyer's input tax credit. Post supply payments labeled as rate differences or special discounts do not qualify to reduce the transaction value and therefore require applicable GST to be charged. (AI Summary)