gst

In the Summary of Outward Supplies report, I noticed sections such as “Details of Credit/Debit Notes and Refund Voucher” and “Details of Credit/Debit Notes and Refund Voucher (Unregistered)”. What is the difference between these sections?

The section Details of Credit/Debit Notes and Refund Voucher includes the debit notes/credit notes recorded for registered business regular/Composition/Tax Deductor, Deemed Export, and Special Economic Zone.

Whereas the section Details of Credit/Debit Notes and Refund Voucher (Unregistered) includes the credit notes raised for unregistered customers whose value is more than 1 Lakh.

Pro Tip: The credit notes raised for unregistered customers would be available in the Taxable Outward Supplies to Consumer section if the value of the credit note is less than 1 Lakhs.

Note: The GST Council has lowered the threshold for B2C Inter-State Invoice Reporting in table 5 of Form GSTR 1 from ₹2.5 Lakh to ₹1 Lakh, with effect from 1 August 2024.

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