Procedures to assess credit note and debit note under GST Act

 

What is GST?

GST, Frequently Asked Questions

Credit Note / Debit Note [for Sales-Purchase return, Post-sale discount]


Procedures to assess credit note and debit note under GST ActFor sale-purchase return, on account of differential value/quantity/tax rates:

(i) Debit / Credit Note Number

(ii) Original Invoice Number and Date

(iii) Taxable Value, Tax Rate and Tax Amount (CGST & SGST or IGST and Additional Tax) ( that is being modified )

The credit/debit note will be reflected in the monthly return in which such notes have been issued.

GST Law may provide the time period within which sales return can be made and the date (invoice date or date of receipt by the buyer) from which such time period is to be calculated.
 

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