Invoice modified after filing of GSTR-1 and GSTR-3B

[Viraj S]

Dear Experts,

There was an invoice related to July'19 which was modified after filing GSTR-1 and GSTR-3B. Now, the question is should i issue a credit note this month and make a fresh invoice or amend the old invoice when i file GST returns for August'19?

Also, the price revision is downwards, so how do i adjust excess GST tax paid amount?

[Himansu Sekhar]

Credit note as per sec.34 is an option.

[Ganeshan Kalyani]

It is better to do the needful through Credit Note with reference to original invoice.

AI Summary

Credit note under Section 34 can adjust downward price revisions and excess GST paid when an invoice is modified. When an invoice is modified after filing returns, the practical mechanism to reflect a downward price revision and adjust excess tax paid is issuance of a credit note referencing the original invoice under Section 34, and the supplier should account for the reduced output tax and reversal in the subsequent return period.