Revised Invoice under GST | Is there any Concept of Revised Invoice under GST? | How to Revise it?
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Revised Invoice under GST | Is there any concept of Revised Invoice under GST? | How to Revise Invoice in GST? discussed by CA. Satuti Mahajan.
GST Cancellation :
Under GST, a taxpayer and a proper officer can initiate the cancellation of GST registration.
If a proper officer has reasons to initiate the cancellation of a registration, he can start the cancellation proceedings by issuing a show-cause notice in Form GST REG-17.
The proper officer can initiate the cancellation proceedings if any of these circumstances arise:
If a taxpayer registered under the composition scheme has not filed the returns for three straight years.
A taxpayer other than composition taxpayers fails to file returns for six continuous periods.
An assessee has taken voluntary GST registration but has not started a business within six months of registration.
The registered taxpayer has contravened the provisions of the GST Act or Rules made thereunder.
The GST registration is obtained by fraud or willful misstatement.
A taxpayer supplies goods or services without any invoice or issues any invoice without a supply of goods or services to evade tax or wrongful availing of the input tax credit.
If a taxpayer fails to pay tax, interest or penalty to the GST department within three months from the date on which such payment becomes due.
Closure of business of the taxpayer.
Death of sole proprietor.
Change in constitution of the taxpayer leading to change in PAN.
The concerned person is no longer required to be registered under GST or required to collect or pay tax.
Transfer of business due to merger or amalgamation.
REVISED INVOICE
Format of a revised invoice
The GST law mandates that the details mentioned below are included in a revised invoice:
Nature of the invoice, i.e. “Revised Invoice” or “Supplementary Invoice”, indicated prominently.
Name, address and GSTIN of the supplier.
An alpha-numeric serial number for the invoice, specific to the financial year.
Invoice date.
Name, address and GSTIN (if registered) of the recipient.
Name, address of the delivery place, and its respective state and code (if the recipient is an unregistered person).
The original invoice serial number and date against which the revised/supplementary invoice is being issued.
A signature or digital signature of the supplier or authorised person.
#casansaar #gst #gstupdates #gstnews #gstnewfeatures #gstinvoice
DISCLAIMER :-
This Video is for the purposes of information / knowledge and shall not be treated as solicitation in any manner or of for any other purposes whatsoever.
It shall not to be used for any legal advice /opinion and shall not to be used to rendering any professional opinion. Viewers are advised to kindly go through to original Government publications / notifications and published case laws or judicial pronouncements.
The statements and opinions expressed in video are those of the speaker and do not necessarily reflect those of the CA Sansaar or any of its employees. CASansaar Team does not take any responsibility for the views of the Speaker.
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GST Cancellation :
Under GST, a taxpayer and a proper officer can initiate the cancellation of GST registration.
If a proper officer has reasons to initiate the cancellation of a registration, he can start the cancellation proceedings by issuing a show-cause notice in Form GST REG-17.
The proper officer can initiate the cancellation proceedings if any of these circumstances arise:
If a taxpayer registered under the composition scheme has not filed the returns for three straight years.
A taxpayer other than composition taxpayers fails to file returns for six continuous periods.
An assessee has taken voluntary GST registration but has not started a business within six months of registration.
The registered taxpayer has contravened the provisions of the GST Act or Rules made thereunder.
The GST registration is obtained by fraud or willful misstatement.
A taxpayer supplies goods or services without any invoice or issues any invoice without a supply of goods or services to evade tax or wrongful availing of the input tax credit.
If a taxpayer fails to pay tax, interest or penalty to the GST department within three months from the date on which such payment becomes due.
Closure of business of the taxpayer.
Death of sole proprietor.
Change in constitution of the taxpayer leading to change in PAN.
The concerned person is no longer required to be registered under GST or required to collect or pay tax.
Transfer of business due to merger or amalgamation.
REVISED INVOICE
Format of a revised invoice
The GST law mandates that the details mentioned below are included in a revised invoice:
Nature of the invoice, i.e. “Revised Invoice” or “Supplementary Invoice”, indicated prominently.
Name, address and GSTIN of the supplier.
An alpha-numeric serial number for the invoice, specific to the financial year.
Invoice date.
Name, address and GSTIN (if registered) of the recipient.
Name, address of the delivery place, and its respective state and code (if the recipient is an unregistered person).
The original invoice serial number and date against which the revised/supplementary invoice is being issued.
A signature or digital signature of the supplier or authorised person.
#casansaar #gst #gstupdates #gstnews #gstnewfeatures #gstinvoice
DISCLAIMER :-
This Video is for the purposes of information / knowledge and shall not be treated as solicitation in any manner or of for any other purposes whatsoever.
It shall not to be used for any legal advice /opinion and shall not to be used to rendering any professional opinion. Viewers are advised to kindly go through to original Government publications / notifications and published case laws or judicial pronouncements.
The statements and opinions expressed in video are those of the speaker and do not necessarily reflect those of the CA Sansaar or any of its employees. CASansaar Team does not take any responsibility for the views of the Speaker.
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