Category: Govt Taxes

The taxable value changed after filing the GSTR 1. How do I rectify this?

The question arises is the reason of change in taxable value. I assume the taxable value have already been reported in GSTR-1. Now, if the change is because of any of the following reasons, a debit note may be issued. a. You have erroneously declared a value which is less than the actual value of the goods or services or both provided. b. You have erroneously declared a lower tax rate than what is applicable for the kind of the goods or services or both supplied. c. The quantity received by the recipient is more than what has been declared in the tax

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