I'm trying to figure out what you are trying to do with your particular set up. You say it is shooting high? It sounds like your Krag "carbine" is a cut down rifle with a rifle rear sight and either a Springfield M1903 sight grafted on or an aftermarket front sight.
Either way, if your carbine/cut down rifle, is shooting high, then you need to raise the front sight, not lower it. Stock front sight bases on Krag rifles and carbines are the same, only the height of the sight blade is different. This, along with a carbine rear sight will properly regulate the POI. Carbines have a taller sight blade than rifles and will have a "C" stamped on them.
If you are dealing with a cut down rifle and you have a '03 Springfield front band on it you can also change out the sight blade for a taller one. The pins on all US sights remove from left to right.
Here is a standard Krag front sight base:

Here is a cut down rifle with a 03 Springfield style front base:

If you have either an original front sight, or the 03 style, there is a very simple way to raise the height of the blade. I usually just put a few thousandths of an inch of weld on the blade and then file it down to regulate the point of impact to the point of aim to properly zero the elevation. Before you weld it, you can you can loop a piece of tape over the blade and adjust it until it is where you want it to be and then measure the height and have the appropriate amount welded on.
Either way, if your carbine/cut down rifle, is shooting high, then you need to raise the front sight, not lower it. Stock front sight bases on Krag rifles and carbines are the same, only the height of the sight blade is different. This, along with a carbine rear sight will properly regulate the POI. Carbines have a taller sight blade than rifles and will have a "C" stamped on them.
If you are dealing with a cut down rifle and you have a '03 Springfield front band on it you can also change out the sight blade for a taller one. The pins on all US sights remove from left to right.
Here is a standard Krag front sight base:

Here is a cut down rifle with a 03 Springfield style front base:

If you have either an original front sight, or the 03 style, there is a very simple way to raise the height of the blade. I usually just put a few thousandths of an inch of weld on the blade and then file it down to regulate the point of impact to the point of aim to properly zero the elevation. Before you weld it, you can you can loop a piece of tape over the blade and adjust it until it is where you want it to be and then measure the height and have the appropriate amount welded on.

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