Revised Invoice in GST: Best Practices for Compliance

Every business vertical under goods and service tax issues invoices. Revised invoice in GST has turned out to be a need of the era due to errors and mistakes that occur while issuing invoices. If mistakes occur, they need to be rectified, and invoices should be revised. 

Let’s scroll down to know in detail: 

What is Revised Invoice in GST? 

A revised tax invoice is a corrected version of an original invoice issued by a supplier under GST. It is primarily used to address errors in the original invoice, ensuring compliance with GST norms.

When should we issue a revised GST Tax Invoice? 

All taxable dealers under the GST regime need to apply for provisional registration and complete formalities for a permanent registration certificate. Let’s look at the key instances when the revised GST invoice should be issued. 

• For supplies made before GST registration. 
• For correcting the errors in the invoice 
• If there are any changes in supply information
• To provide the correct GSTIN number of the customer 

The revised tax invoice has to be issued within one month of the issuing date of the GST registration certificate. 

Read More: GST Registration for Partnership Firm

Format of Revised Tax Invoice in GST

The revised tax invoice must be issued within one month of the date the GST registration certificate is issued. 

• The nature and context of the revised invoice are mentioned. It also mentions why the invoice was modified and what adjustments were made. 
• The supplier’s name, address, contact information, and GSTIN number also form the crux of the revised tax invoice format. Make sure all the supplier details are entered correctly. 
• The alpha-numeric serial invoice number specific to the financial year should be entered correctly. This is crucial when the corrections are issued. 
• The invoice date differentiates the original invoice from the revised document for a clear record of the modifications. 
• The date against which the revised invoice is issued links the revised tax invoice to the original transactions. 
• The registered recipient’s name, address, and GSTIN ensure that the revised invoice is accurately linked to the buyer. 
• The name and address of the delivery place, along with its respective state and code, specify the location where the goods were delivered or the service was rendered. 
• The original invoice serial number refers to the original document that needs modification. 
• The document also needs the digital signature of the authorized person to validate the edits. 

How Can I Issue Revised Invoice Under GST? 

Let’s scroll down to check the details on how can GST invoice be revised. 

1. Identify incorrect details, errors, and the need to make modifications. 
2. Gather original invoice number and date to link the new doc to the original transaction. This ensures it is not a new sale but an amendment to the old one. 
3. Create a new invoice labelled as ‘Revised Tax Invoice’ and assign a new unique serial number to the document. 
4. Add supplier and recipient information along with delivery address and location. 
5. Enter the dates of the original and ‘revised tax invoice in GST’. 
6. Explain why the invoice was revised. 
7. Record the newly generated invoice. 
8. Provide a copy of the revised invoice in GST to the recipient. 

Also know about How To Make Invoice Under GST Rules

What are Supplementary Invoices? 

A supplementary tax invoice is an invoice issued by a taxable person due to the absence of details in the original invoice. It is also known as a debit note. 

Benefits of Supplementary Tax Invoice:

• It is used to identify deficiencies in the original tax invoice. 
• It helps to correct or adjust the product pricing and quantity. 
• It eliminates the need to cancel original invoices. 
• It maintains transparency and clear invoicing records. 

What is the Difference between a Revised Invoice and a Supplementary Invoice? 

Aspect	Revised Invoice	Supplementary Invoice
Purpose	To modify errors in the original invoice.	To address deficiencies or adjust tax liabilities.
Timing	Issued between GST application and certificate issuance.	Issued as required post-transaction.
Recipients	Issued to both registered and unregistered persons.	Issued only to registered taxable persons.
Impact on Original Invoice	Replaces the original invoice entirely.	Adjusts tax liability using debit/credit notes.
Use Case	Rectifies errors for compliance.	Documents changes in taxable amounts.

Wrap Up 

Follow the revised tax invoice format and process explained above to revise your GST invoices. Was this article helpful to you? If yes then stay tuned to more blogs from us.

If you are looking to create a GST compliant invoice, Munim is the best choice for your. Explore our solutions now.

FAQs

Can a GST Invoice be revised? 

Yes, you can issue a revised invoice in GST before obtaining the GST registration certificate. 

How to correct a wrong invoice in GST? 

The taxpayer will either have to issue a debit note or a credit note to modify or cancel the e-invoice on the GST portal. 

Is it possible to edit invoices? 

You can change the invoice details by editing one line at a time or performing a mass edit action. 

Can you revise the invoice once it is issued? 

You can no longer revise the invoice once it is issued.