We issued a Tax Invoice (Final Invoice) for service contract in Feb'18. As this was sub-contract to us and also this is final invoice (payment for balance 20% of the work, our service recipient is saying payment will be released only after approval from Principal recipient from whom our service recipient has got the contract. There is high chance that taxable value might change. Tomorrow (20th mar'18) is due date for GSTR-3B filing, Please suggest if we can cancel this Tax Invoice raised in Feb'18 and raise a final invoice on getting/knowing the approved amount from principal Service recipient. We are a small PVT. ltd. Co. and no other invoice is raised to any party after that invoice and also invoice is raised manually and not through software.
As per GST rules, invoice should be raised once services are provided. You cannot cancel invoice, you can issue a debit note instead.
In case in future if tax value changes, you can issue a new invoice for increased value or issue a debit note if value decreases.
JOIN LARGEST DISCUSSION PLATFORM
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Join Discussion
