Hello all,
I need to raise a supplementary Invoice to our debtors for settle the difference Tax amount.
As you know in garment sector Tax % will be 5% if SP below 1000/- and 12% if SP above 1000/-.
For ex.
There is an item which should be booked on 60% of MRP + tax on 60% of MRP.
MRP : 2000/-
Invoice should be booked on 1200+144(12% of 1200)=1344/-
but due to some reason it had been booked on 30%+ tax
Original Invoice value: 600+30=630/-
Again Supplementary Invoice value: 600+30=630/-
As you can see the SP(1200) is coming correctly but the Tax amount is not correct.
So please confirm the procedure