How to handle the VAT adjustment in this situation.
a. The customer raised an advance tax invoice (386) with invoice number as “001” with a total amount of 100,000.
b. This advance tax invoice (386) is being referenced in a tax invoice(388) with an invoice valuation of 200,000 and VAT rate as 15%.In this tax invoice, the VAT total amount is indicated as 30,000. but the payable vat amount is still 15,000
Given this scenario, the question that arises is whether we can adjust the VAT amount in the tax invoice while considering the reference to the advance tax invoice.
If such an adjustment is feasible, what would be the appropriate process to carry out this adjustment while ensuring compliance with relevant regulations?