Question29:
Due to some reasons, i wish to pay less to my foreign supplier (foreign). In
that case how to issue debit/credit note and how to show in my GSTR 3B and GSTR
2. Kindly advise on priority.
Answer:
You have two alternatives
1st No change in GST record
If the credit of the imported input is available then need not to do any change
in GST you can take the credit of tax whatever is paid
In this case you may issue debit note for accounting purposes. Foreign exchange
would be remitted as per your instructions to the foreign supplier by your
banker.
2nd This is a lenghty rout and to be adopted if the credit of import is not
available or ITC can not be utilised (LIke in case you are making fabric or
railway parts )
In this case you should file a refund claim for the tax higher paid and this
refund is available only if the price was charged higher then the actual price
Refund claim is to be filed with the custom (Reply dt. 26/3/2018)